Netease ( (NTES) ) has released its Q4 earnings. Here is a breakdown of the information Netease presented to its investors.
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NetEase, Inc. is a leading internet and game services provider based in China, known for developing and operating popular mobile and PC games both domestically and globally. The company also oversees subsidiaries like Youdao, an intelligent learning platform, and NetEase Cloud Music, a thriving online music service.
In its latest earnings report, NetEase revealed mixed performance for the fourth quarter of 2024, with a slight decrease in net revenues to RMB26.7 billion, a 1.4% drop from the same period last year. However, the company’s gaming segment showed resilience, with a 1.5% increase in revenues, driven by new game launches and sustained engagement in legacy titles.
Key highlights from the report include a notable increase in non-GAAP net income to RMB9.7 billion for the quarter, alongside a decrease in operating expenses by 15.1% year-over-year. The company’s gaming segment saw substantial success with new releases like Marvel Rivals and Where Winds Meet, both of which garnered significant player bases shortly after launch. NetEase Cloud Music and Youdao experienced revenue declines but continued to focus on enhancing their service offerings.
Looking ahead, NetEase remains committed to expanding its gaming portfolio and enhancing its service platforms. The management emphasizes innovation and collaboration with strategic partners to maintain its competitive edge and drive growth across its diverse business sectors.
