Marketing Expenses ImpactOperating income was below consensus estimates, primarily due to higher-than-expected marketing expenses.
Non-Gaming Segment ChallengesNon-gaming businesses faced challenges, with NetEase Cloud Music revenue declining by 2% YoY, mainly due to a decrease in social entertainment revenue.
Revenue Forecast UncertaintyThe forecasts for new game grossing are high hit-or-miss risk by nature, indicating uncertainty in potential revenue.