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Cloud Music Inc. ( (HK:9899) ) has shared an update.
NetEase Cloud Music Inc. announced its unaudited consolidated annual results for the year ended December 31, 2024, showcasing significant financial growth. The company reported a modest revenue increase of 1.1% to RMB 7,950,146 thousand, while gross profit surged by 27.5% to RMB 2,681,512 thousand. Notably, the profit before income tax and profit for the year more than doubled, with increases of 104.5% and 113.2% respectively, highlighting a strong performance and improved profitability. The adjusted net profit, a non-IFRS measure used by the company to provide a clearer picture of its operational performance, also showed a substantial rise of 107.7%. These results indicate robust financial health and an enhanced market position for NetEase Cloud Music Inc., potentially benefiting its stakeholders.
More about Cloud Music Inc.
NetEase Cloud Music Inc. operates in the music streaming industry, offering digital music services and platforms primarily focused on the Chinese market. The company provides a range of online music services, including streaming, downloading, and community features for music enthusiasts.
YTD Price Performance: 29.60%
Average Trading Volume: 533,422
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$32.23B
For an in-depth examination of 9899 stock, go to TipRanks’ Stock Analysis page.
