(Yicai) Nov. 17 -- Shares in NetEase advanced as much as 3.1 percent today after the Chinese internet giant reported double-digit growth in net profit and revenue in the third quarter from the same period last year thanks to its popular new games.

NetEase’s share price in Hong Kong [HKG: 9999] closed up 2.1 percent at HKD179.40 (USD23) apiece today, although its New York-traded stock [NASDAQ:NTES] slumped 2.4 percent to USD112.35 yesterday.

NetEase’s net profit soared 17 percent in the three months ended Sept. 30 from a year earlier to CNY7.8 billion (USD1.1 billion), the Hangzhou-based firm reported yesterday. Revenue surged 11.6 percent to CNY27.3 billion (USD3.7 billion).

“Our robust and increasingly diversified games portfolio led our strong results in the third quarter,” said Chief Executive Officer and Director William Ding, . “Our flagship games continue to win the hearts of players with fan favorites like the Fantasy Westward Journey series. Our newest innovative, first-rate games in various genres, including Racing Master, Justice mobile game and Dunk City Dynasty, also quickly gained widespread acclaim.”

Revenue from games and related value-added services leapt 16.5 percent in the third quarter year on year to CNY21.8 billion (USD3 billion), outpacing its biggest rival Tencent Holdings whose earnings from games climbed 7 percent to CNY46 billion in the same period.

NetEase’s new Justice mobile game uses a payment model which makes it easier for users to make small payments, the Beijing-based company’s management said at the earnings call. Around one third of the game’s users have never played a NetEase game before.

Revenue from NetEase’s edtech unit Youdao soared 9.7 percent over the period to CNY1.5 billion (USD207 million), that from its music streaming arm Cloud Music declined 16.3 percent to CNY2 billion, and that from its innovation and other businesses edged up 0.5 percent to CNY2 billion.

Chief Financial Officer Yang Zhaoxuan has resigned for personal reasons, NetEase said recently. He will step down at the end of the month and will continue to work as a consultant until June next year. His successor has not yet been named.

Editors: Dou Shicong, Kim Taylor