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NetEase Reports Mixed Financial Results for Q4 and Fiscal Year 2024

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NetEase Reports Mixed Financial Results for Q4 and Fiscal Year 2024

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Netease Inc ( (HK:9999) ) just unveiled an announcement.

NetEase, Inc. announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. The company reported net revenues of RMB26.7 billion, a 1.4% decrease from the same quarter in 2023. Despite a rise in games and related services revenue by 1.5%, declines were noted in various other segments, including Youdao, NetEase Cloud Music, and innovative businesses. The gross profit saw a slight decrease of 3.3%, while total operating expenses decreased significantly by 15.1%. These results reflect a mixed financial performance with a focus on cost management.

More about Netease Inc

NetEase, Inc. is a leading internet and game services provider based in Hangzhou, China. The company primarily focuses on games and related value-added services, as well as other digital products such as Youdao, an online education service, and NetEase Cloud Music, a music streaming service.

YTD Price Performance: 17.41%

Average Trading Volume: 6,886,149

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: HK$517.2B

See more insights into 9999 stock on TipRanks’ Stock Analysis page.

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