HoYoVerse (miHoYo) 2022 Profits Surpassed Capcom, Ubisoft

According to a financial report on Chinese-owned companies’ profits, HoYoVerse of Genshin Impact and Honkai fame made over $27.3 billion CNY in 2022. That would be around $3.83 billion USD. In terms of net income, that would be $16.1 billion CNY (which would convert to $2.257 billion USD. This means that in 2022, HoYoVerse made more money than AAA companies such as Ubisoft and Capcom. [Thanks, 4Gamer!]

Since HoYoVerse is an indie company, it does not need to disclose its profits. However, thanks to its appearance on Chinese state-owned media Guangming Daily’s list of top-earning Chinese companies, we now know how much revenue HoYoVerse raked in for 2022. As an aside, the term “indie company” may draw to mind small companies with only a few people. But since HoYoVerse, or miHoYo, is not publicly owned, it counts as one.

While HoYoVerse had raked in quite the profits, it was still not the most profitable gaming company in 2022. Here are the rankings for profit in 2022 (courtesy of 4Gamer):

1. Tencent
2. Tencent Gaming
3. Sony
4. Nintendo
5. miHoYo
6. Sony (Game & Network Service)
7. Activision Blizzard
8. Bandai Namco Holdings
9. Electronic Arts
10. Nexon
11. Konami Group (Digital Entertainment)
12. Cygames
13. Capcom
14. Konami Group
15. Square Enix HD
16. Koei Tecmo Holdings
17. Ubisoft Entertainment

HoYoVerse’s strong sales likely come from its major hits such as Genshin Impact and Honkai: Star Rail. Genshin Impact is readily available on mobile devices, PS4, PS5, and Windows PC. Honkai: Star Rail is also available on mobile devices and PC, but its PS4 and PS5 versions are in development.