According to the Chinese newspaper Guangming Daily, the development study last year miHoYo produced 27.34 billion yuan of revenues (about 3.80 billion euros), with i profits which amounted to 16.145 billion yuan (about 2.24 billion euros).
This is a huge achievement, considering that it is not even a public company, with very high profits considering the expenses incurred. In this it has done better than many western giants, such as Activision BlizzardElectronic Arts, Embracer Group and Take Two which, net of higher revenues, produced lower profits.
Incidentally, during the same period Activision Blizzard produced $7.52 billion in revenue, for $1.51 billion in profit. Electronic Arts $7.42 billion in revenue for $802 million in profit. Embracer Group $3.52 billion in revenues for $417 million in profits and Take-Two $5.35 billion in revenues for $1.12 billion in losses.
miYoHo in China it is still behind the big names like Tencent and NetEase, with the former generating $17.3 billion in revenues and the latter $10.8 billion, but these are companies operating at other volumes.
The success of miHoYo is mainly due to Genshin Impact, which has surpassed $4 billion in global revenue since publication. Even the recent Honkai: Star Rail seems to be doing very well, able as it was to generate more than 130 million dollars in its first month, on iOS and Android.
The three founders of miHoYo are among the 500 richest people in China.
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