Welcome to our dedicated page for Netease news (Ticker: NTES), a resource for investors and traders seeking the latest updates and insights on Netease stock.
NetEase, Inc. (NASDAQ: NTES; HKEX: 9999) regularly issues news and announcements as an internet and game services provider centered around premium content. Its news flow often focuses on quarterly financial results, operational highlights in online games, developments at majority-controlled subsidiaries such as Youdao and NetEase Cloud Music, and updates on corporate governance and management.
Investors and followers of NTES can expect earnings releases that detail segment net revenues across games and related value-added services, Youdao, NetEase Cloud Music, and innovative businesses and others. These announcements typically discuss trends in online game performance, including contributions from self-developed and licensed titles, as well as changes in cost of revenues, gross profit, operating expenses, net income and non-GAAP metrics. They also describe dividend declarations and progress under authorized share repurchase programs.
Beyond financials, NetEase’s news includes operational updates on its gaming ecosystem, such as player engagement milestones, chart rankings for individual games in China and global markets, and collaborations with partners on licensed content. Subsidiary-level news from Youdao covers its AI-powered learning and advertising solutions, segment performance in learning services, smart devices and online marketing services, and its own share repurchase program. NetEase Cloud Music-related releases highlight activity on its online music platform and collaborations with artists.
Corporate announcements also address board and management changes, including independent director appointments and senior executive transitions within the online games division. For readers tracking NTES, this news page provides a centralized view of these developments, offering insight into how NetEase describes its business performance, strategic focus and governance over time.
NetEase reported strong Q2 2024 financial results with net revenues of RMB25.5 billion (US$3.5 billion), up 6.1% year-over-year. Key highlights include:
- Games and related services revenue increased 6.7% to RMB20.1 billion
- Gross profit rose 11.6% to RMB16.0 billion
- Net income was RMB6.8 billion (US$930.0 million)
- Non-GAAP net income reached RMB7.8 billion (US$1.1 billion)
The company launched popular new titles like Lost Light and Once Human, while existing games like Naraka: Bladepoint and Identity V continued strong performance. NetEase also announced plans to bring several titles to major gaming platforms and consoles. The company declared a quarterly dividend of US$0.0870 per share.
Cloud Music Inc. reported strong financial results for H1 2024:
- Revenue increased 4.1% YoY to RMB4.1 billion
- Online music services revenue up 26.6% to RMB2.6 billion
- Gross profit surged 47.7% to RMB1.43 billion
- Net profit jumped to RMB809.9 million from RMB293.8 million
- Gross margin improved to 35.0% from 24.7%
Key drivers included growth in paying subscribers, improved monetization, and operating leverage. The company expanded its content library, enhanced its community features, and upgraded its app to boost user engagement. Cloud Music aims to further diversify content, nurture its community, improve the user experience, and strengthen monetization going forward.
Youdao reported Q2 2024 financial results with total net revenues of RMB1.3 billion (US$181.9 million), a 9.5% increase year-over-year. Key highlights include:
- Net revenues from online marketing services grew 68.4% to RMB511.2 million
- Gross margin improved to 48.2% from 47.0% last year
- Operating loss narrowed significantly to RMB72.6 million from RMB289.1 million
- Net loss attributable to shareholders decreased to RMB99.5 million from RMB299.2 million
The company saw strong growth in AI-driven subscription services and online marketing, while learning services and smart device revenues declined. Youdao expects to achieve full-year positive operating income in the near future, driven by AI empowerment across business lines.
Cloud Music Inc. (HKEX: 9899), a leading interactive music streaming service provider in China, has announced it will report its financial results for the first half of 2024 on August 22, 2024, after the Hong Kong market closes. The company will host an earnings conference call at 7:00 p.m. Beijing/Hong Kong Time on the same day. Participants must register in advance using the provided link to receive dial-in details. A replay of the call will be available through August 29, 2024, and a live and archived webcast will be accessible on the company's investor relations website.
Youdao (NYSE: DAO), a leading intelligent learning company in China, has announced it will release its second quarter 2024 financial results on August 22, 2024, before U.S. markets open. The company will host an earnings teleconference call with a simultaneous webcast at 6:00 a.m. Eastern Time (6:00 p.m. Beijing/Hong Kong Time) on the same day. Management will discuss quarterly results and answer questions during the call.
Investors can access the live and archived webcast on Youdao's investor relations website. A replay of the conference call will be available by phone for one week after the live call, until August 29, 2024. The company has provided toll-free and international dial-in numbers for various regions, including the United States, Mainland China, and Hong Kong.
NetEase (NASDAQ: NTES, HKEX: 9999), a leading internet and game services provider, has announced its plans to report financial results for the second quarter of 2024 on Thursday, August 22, 2024, before the U.S. markets open. The company will host an earnings teleconference call with a simultaneous webcast at 8:00 a.m. Eastern Time (8:00 p.m. Beijing/Hong Kong Time) on the same day. NetEase's management will discuss the quarterly results and answer questions during the call.
Interested parties can participate by dialing 1-914-202-3258 with conference ID: 10040836. A replay will be available until August 29, 2024, by dialing 1-855-883-1031 and entering PIN: 10040836. The live webcast and a 12-month replay will be accessible on NetEase's Investor Relations website at http://ir.netease.com/.
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.
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.
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.'
NetEase Cloud Music has expanded its K-Pop portfolio by entering into a licensing agreement with Kakao Entertainment, a South Korean entertainment company. This partnership aims to distribute Kakao Entertainment's music catalog in China, promoting Korean music to a broader audience. Kakao Entertainment, known for its K-Pop artists and tracks, will benefit from NetEase Cloud Music's large user base and interactive platform. The agreement signifies a strategic move to enhance the music offerings on NetEase Cloud Music, fostering cross-cultural music exchanges and connecting artists with fans across borders.
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