NetEase, Inc. - $NTES STOCK NEWS

NetEase, Inc. announced its unaudited financial results for Q4 and fiscal year 2023, showcasing growth in net revenues, games, Youdao, Cloud Music, and innovative businesses. The company reported a 7.0% increase in net revenues, reaching RMB27.1 billion. Gross profit rose by 27.0% to RMB16.8 billion, with total operating expenses increasing by 13.0% to RMB10.0 billion. Net income attributable to shareholders was RMB6.6 billion, while non-GAAP net income was RMB7.4 billion. The company's successful games like Eggy Party and Justice franchises, along with improvements in Cloud Music and Youdao, contributed to the positive financial results.

Cloud Music Inc. (HKEX: 9899) will report its financial results for the fiscal year of 2023 on February 29, 2024, after the Hong Kong market closes. The earnings conference call will be hosted at 7:00 p.m. Beijing/Hong Kong Time on the same day. Participants can register in advance and access the call via phone or webcast. A replay will be available through March 7, 2024.

Youdao, Inc. will report its Q4 and fiscal year 2023 financial results on February 29, 2024. The earnings teleconference call will take place at 5:00 a.m. Eastern Time. Dial-in details for the call are provided for the US, International, Mainland China, and Hong Kong. A live and archived webcast of the call will be available on the Company's investor relations website. A replay of the call will also be accessible by phone until March 7, 2024.

NetEase, Inc. will report financial results for the fourth quarter and fiscal year 2023 on February 29, 2024. 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: 10036635. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10036635. 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/

Youdao, Inc. (NYSE: DAO) to hold its annual general meeting of shareholders on December 14, 2023, to discuss Company affairs with management. Shareholders and ADS holders can access the annual report on the Company's investor relations website and the SEC's website. Hard copies of the annual report will be provided free of charge upon request.

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.