Youdao, Inc. - $DAO STOCK NEWS

NetEase, Inc. (NASDAQ: NTES and HKEX: 9999) announced unaudited Q3 2023 financial results. Net revenues reached RMB27.3 billion, up 11.6% YoY. Games and related services net revenues increased by 16.5%. Cloud Music net revenues decreased by 16.3%. Gross profit was RMB17.0 billion, up 23.4% YoY. Net income attributable to shareholders was RMB7.8 billion. The company achieved record-high revenue from Youdao and strengthened its music-centric membership monetization. The quarter-over-quarter and year-over-year increases in gross profit margins for different segments were notable. The company's total cash and cash equivalents, current and non-current time deposits, and restricted cash, as well as short-term investments balance, totaled RMB104.4 billion as of September 30, 2023. Net cash provided by operating activities was RMB9.8 billion for Q3 2023. The board of directors approved a dividend of US$0.0990 per share for Q3 2023 and a share repurchase program of up to US$5.0 billion of the Company's ADSs and ordinary shares. Mr. Charles Zhaoxuan Yang resigned from his position as Chief Financial Officer.

Youdao, Inc. (NYSE: DAO) announced unaudited financial results for Q3 2023, with total net revenues of RMB1.5 billion, a 9.7% increase from the same period in 2022. The company reported a 7.0% increase in net revenues from learning services, a 29.3% decrease in net revenues from smart devices, and a 113.5% increase in net revenues from online marketing services. Gross margin was 55.9%, up from 54.2% in Q3 2022. The company's CEO expressed confidence in the long-term prospects, supported by dynamic AI systems and ongoing advancements in AI products and applications.

Youdao, Inc. will report its Q3 2023 financial results on November 16, 2023. The earnings teleconference call will take place at 5:00 a.m. Eastern Time. Dial-in details and webcast information are provided.

NetEase, Inc. will report its financial results for the 2023 third quarter on November 16, 2023. The earnings teleconference call will take place at 7:00 a.m. Eastern Time. Interested parties can participate by dialing 1-914-202-3258 and providing conference ID: 10034483.

NetEase reports Q2 2023 financial results with net revenues of $3.3 billion, an increase of 3.7% YoY. Gross profit increases by 11.1% YoY. Net income attributable to shareholders is $1.1 billion. Non-GAAP net income from continuing operations is $1.2 billion. Games and related value-added services net revenues increase by 3.6% YoY. Youdao net revenues increase by 26.2% YoY. Cloud Music net revenues decrease by 11.1% YoY. Innovative businesses and others net revenues increase by 9.9% YoY.

Youdao, Inc. reports unaudited financial results for Q2 2023. Total net revenues increase by 26.2% to RMB1.2 billion ($166.4 million) compared to Q2 2022. Net revenues from learning services increase by 20.8% to RMB680.9 million ($93.9 million). Net revenues from smart devices decrease by 7.4% to RMB222.2 million ($30.6 million). Net revenues from online marketing services increase by 98.7% to RMB303.6 million ($41.9 million). Gross margin improves to 47.0% from 42.8% in Q2 2022. Loss from operations decreases to RMB289.1 million ($39.9 million) from RMB455.2 million in Q2 2022.

Youdao, Inc. has unveiled new products including the Youdao Dictionary Pen X6 pro and S6, and Youdao Listening Pod pro. The Dictionary Pen X6 pro offers innovative functionality and a virtual coach named 'Echo' for English language practice. The Listening Pod pro version has enhanced hardware functionality and an advanced AI algorithm for tailored English listening content.

NetEase, Inc. (NASDAQ: NTES and HKEX: 9999) will report financial results for the 2023 second quarter on August 24, 2023, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast is scheduled for 8:00 a.m. Eastern Time. Interested parties can participate by dialing 1-914-202-3258 and providing conference ID: 10032534. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10032534. The call will be webcast live and the replay will be available for 12 months on NetEase's Investor Relations website at http://ir.netease.com/