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Youdao, Inc. American Depositary Shares, each representing one - DAO STOCK NEWS

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Youdao, Inc. (NYSE: DAO) is a prominent internet technology company in China that specializes in providing a wide range of innovative online services catering to content, community, communication, and commerce. Founded in 2006 as part of NetEase, Inc., Youdao has grown to be a key player in the e-learning market, driven by its industry-leading technology and commitment to enhancing learning experiences.

Core Offerings and Segments

  • Learning Services: Youdao offers an extensive range of educational content and online courses tailored for various age groups, from pre-school and K-12 students to college students and adult learners. Key platforms include Youdao Premium Courses, NetEase Cloud Classroom, and China University MOOC.
  • Smart Devices: The company produces advanced educational tools like the Youdao Smart Pen, Youdao Dictionary Pen, and Youdao Pocket Translator, designed to assist learners in their educational journey.
  • Online Marketing Services: Utilizing cutting-edge AI technology, Youdao delivers performance-based advertisements, significantly boosting its revenue streams.

Recent Achievements and Financial Performance

In 2023, Youdao achieved notable milestones, including the introduction of AI-driven products like the Mr. P AI Tutor, powered by the proprietary large language model Ziyue. This innovation has been well-received, contributing to a substantial increase in revenues from online marketing services by over 50% year-over-year for five consecutive quarters. The company reported RMB1.5 billion (US$208.5 million) in net revenues for Q4 2023, with significant growth in online marketing services despite a decrease in smart device sales.

For the fiscal year 2023, Youdao reported net revenues of RMB5.4 billion (US$759.1 million), a 7.5% increase from 2022. The company continues to streamline its operations and leverage strategic partnerships, such as those within the NetEase Group, to secure financial stability and support future growth.

Future Outlook

Looking forward, Youdao is committed to further enhancing its AI capabilities and expanding the applications of its Ziyue language model. The company aims to explore new opportunities in learning services, smart devices, and online marketing to support user efficiency and effectiveness in both learning and work environments.

For more information, visit Youdao Investor Relations.

Rhea-AI Summary

Youdao (NYSE: DAO), an intelligent learning company in China, announced its unaudited financial results for Q1 2024. Total net revenues rose 19.7% YoY to RMB1.4 billion (US$192.8 million). Revenue from online marketing services surged by 125.9%, while learning services and smart devices saw declines of 2.0% and 14.8%, respectively. Gross margin decreased to 49.0%, down from 51.7% in Q1 2023. Operating expenses dropped significantly by 18.3%. The company reported a net income of RMB12.4 million (US$1.7 million) compared to a loss of RMB204.4 million in Q1 2023. As of March 31, 2024, cash and short-term investments totaled RMB326.0 million (US$45.2 million). The company executed a share repurchase program, buying back approximately 6.6 million ADSs worth US$30.4 million.

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NetEase (NASDAQ: NTES and HKEX: 9999) reported an increase in net revenues of 7.2% YoY to RMB26.9 billion (US$3.7 billion) for Q1 2024. Games and related services saw a 7.0% rise, reaching RMB21.5 billion (US$3.0 billion). Youdao's net revenues grew by 19.7% to RMB1.4 billion (US$192.8 million), and Cloud Music posted a 3.6% increase, hitting RMB2.0 billion (US$281.1 million). Gross profit was up by 14.2% YoY to RMB17.0 billion (US$2.4 billion), but operating expenses surged by 22.4% to RMB9.4 billion (US$1.3 billion). Net income attributable to shareholders was RMB7.6 billion (US$1.1 billion), while non-GAAP net income was RMB8.5 billion (US$1.2 billion). Basic net income per share stood at US$0.33 (US$1.65 per ADS), with non-GAAP basic net income at US$0.37 (US$1.84 per ADS).

Key operational highlights included continued success in established game franchises, strong performances from new game releases, and expanded regional launches. NetEase renewed its publishing agreement with Blizzard and enhanced its collaboration with Microsoft Gaming. Youdao achieved its first sequential quarter of positive net income, and Cloud Music focused on its core business, implementing a comprehensive product upgrade.

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NetEase showcased over 40 game franchises and products at its 2024 annual product launch event on May 20 in Hangzhou, China. The 120-minute online event highlighted a diversified range of gaming offerings across various genres and platforms. Key announcements included new game titles like 'Where Winds Meet,' 'NARAKA: BLADEPOINT Mobile,' 'Once Human,' 'Ashfall,' and 'Lost Light.' NetEase also revealed plans for expansions, crossovers, and new events for established titles such as 'Fantasy Westward Journey,' 'Westward Journey,' 'Justice,' 'Eggy Party,' 'Racing Master,' and 'Identity V.' Additionally, the event featured insights into ongoing collaborations with global partners, including behind-the-scenes stories from the producer of 'Marvel Snap.'

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NetEase, a leading internet and game services provider, will report its financial results for the 2024 first quarter on May 23, 2024. The earnings call will take place at 7:00 a.m. Eastern Time on the same day. Interested parties can participate by dialing 1-914-202-3258 with conference ID: 10038664. A replay will be available by dialing 1-855-883-1031 and entering PIN: 10038664. The webcast and replay will be accessible on NetEase's Investor Relations website.

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Youdao, Inc. will report its first quarter 2024 financial results on May 23. The earnings teleconference call will take place at 6:00 a.m. ET on the same day. Youdao's management will discuss the results and answer questions.

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Youdao, Inc. filed its 2023 Annual Report on Form 20-F with the SEC, showcasing its industry-leading technology in China. Shareholders can access the report on the company's website or the SEC's website. Hard copies are available upon request.
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NetEase, Inc. filed its annual report on Form 20-F for fiscal year 2023 and released its 2023 Environmental, Social, and Governance Report. Shareholders can access the report online or request a hard copy for free. The ESG report highlights the company's achievements in key areas.
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Blizzard Entertainment, Microsoft Gaming, and NetEase announce the return of beloved video game titles to mainland China in a renewed publishing deal starting summer 2024. The partnership aims to deliver exceptional gaming experiences to players across platforms and markets.
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NetEase, Inc. (NTES) to showcase game development expertise at the 2024 Game Developers Conference, highlighting innovative technologies and immersive gaming experiences. The company's presentations will cover topics like Chinese game studios, bug analysis, frustum culling, creature design, and the evolution of China's board game market.
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Youdao, Inc. announced its unaudited financial results for Q4 and FY 2023, with total net revenues of RMB5.4 billion, a 7.5% increase from 2022. Despite a decrease in net revenues from smart devices, the company saw growth in online marketing services. Gross margin was 51.4% for FY 2023. The company's AI technology integration and product launches contributed to improved financial performance.
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FAQ

What is the current stock price of Youdao American Depositary Shares, each representing one (DAO)?

The current stock price of Youdao American Depositary Shares, each representing one (DAO) is $6.54 as of December 4, 2024.

What is the market cap of Youdao American Depositary Shares, each representing one (DAO)?

The market cap of Youdao American Depositary Shares, each representing one (DAO) is approximately 785.2M.

What is Youdao, Inc.?

Youdao, Inc. is an internet technology company in China that provides online services in content, community, communication, and commerce, focusing primarily on educational tools and solutions.

What services does Youdao offer?

Youdao offers a range of services including online courses, smart learning devices like Youdao Smart Pen and Youdao Pocket Translator, and online marketing services.

What is the significance of Youdao's AI technology?

Youdao's AI technology powers tools like the Mr. P AI Tutor and enhances the company's online marketing services, contributing to significant revenue growth.

How did Youdao perform financially in 2023?

In 2023, Youdao reported net revenues of RMB5.4 billion (US$759.1 million), marking a 7.5% increase from the previous year, with strong performance in online marketing services.

What are the main revenue segments for Youdao?

Youdao's main revenue segments include Learning Services, Smart Devices, and Online Marketing Services, with the majority of revenue coming from Learning Services.

What recent innovations has Youdao introduced?

Youdao has introduced the Mr. P AI Tutor, based on its proprietary large language model Ziyue, and continues to enhance its educational tools and online marketing capabilities.

Who are Youdao's target users?

Youdao targets a wide range of users including pre-school, K-12, and college students, as well as adult learners seeking lifelong education solutions.

What are Youdao's future plans?

Youdao plans to further develop its AI capabilities, expand applications of its language model Ziyue, and enhance its learning services, smart devices, and online marketing offerings.

How is Youdao supported financially?

Youdao receives financial support from NetEase Group, including short-term and long-term loans to ensure continued operations and future development.

Where can I find more information about Youdao's financial results?

More detailed information about Youdao's financial results can be found on their investor relations website at http://ir.youdao.com.

Youdao, Inc. American Depositary Shares, each representing one

NYSE:DAO

DAO Rankings

DAO Stock Data

785.24M
29.87M
4.35%
46.43%
0.15%
Education & Training Services
Consumer Defensive
Link
United States of America
Hangzhou