Leading Chinese internet firm Netease saw revenues reach a new high of $93m in the first quarter of 2008, according to the company's unaudited financial results.

The figures put Nasdaq-listed Netease among China's top-five internet companies by revenue.

"The key to our success in 2008 and beyond will be our continued ability to evolve as we anticipate the ever-changing dynamics of the Chinese internet market," said Netease chief executive William Ding.

"We believe that diversification in our product offerings will allow us to achieve our goals."

The company suspended its biggest income earner, online game services, as part of a three-day national mourning for victims of the Sichuan earthquake earlier this month.

Netease is one of China's largest online games developers and operators, with massively multiplayer and smaller casual games among its many offerings.

The company earned the major part of its first-quarter revenue of $79.3m from online games. The company is currently developing Tianxia II, a new MMORPG, in house.

"During the first quarter of 2008, we continued to intensify our focus on the development of item- and fee-based games and remain on schedule to start closed beta testing of Tianxia II, which will be our first 3D item-based game, " said Ding.

Item-based games are free to play, but players pay for in-game items and other enhancements that improve their chances of success.

Netease also operates a popular web portal which features news, entertainment, communications and community services. In the first quarter, Netease earned $11m from advertising, much of which is placed on its portal sites.

"Our free email service has continued to dominate the Chinese market, as we remain relentless in our efforts to continually provide users with the best experience and technology available," said Ding.

Ding linked the company's continuing success to its ability to take advantage of the rapid growth of the internet market in China.