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Netease (NTES)
NASDAQ:NTES
Earnings Data
Report Date
May 26, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.21Last Year’s EPS
2.55Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a generally positive outlook driven by solid full-year revenue growth (+7% YoY), strong performance and record results from core gaming franchises, successful global launches (Where Winds Meet, Marvel Rivals) and deep, production-level AI integration that management positions as a long-term competitive advantage. Offsetting these positives were meaningful near-term profitability pressures in the quarter (non-GAAP net income down 27% YoY), a small decline in Cloud Music full-year revenue (-2% YoY), and some segment-level margin and YoY revenue weakness in innovative businesses and social entertainment. The company maintains a strong cash position, active capital return (dividend and buybacks), and a robust pipeline of global titles and AI-driven initiatives, suggesting the positives materially outweigh the quarter-specific setbacks.Company Guidance
Total Net Revenue Growth
Total net revenues for 2025 were RMB 112.6 billion (USD 16.1 billion), representing a 7% year-over-year increase, with Q4 revenues of RMB 27.5 billion (USD 3.9 billion).
Strong Games Performance
Games and value-added services generated RMB 92.1 billion in 2025, up 10% year-over-year; online games net revenues totaled RMB 89.6 billion, up 11% YoY. Q4 online game net revenues rose 4% YoY to RMB 21.3 billion, and Q4 games & VAS net revenues were RMB 22.0 billion (up 3% YoY).
Record and Renewed Franchises
Legacy titles delivered milestone results: Fantasy Westward Journey Online (23rd year) and Fantasy Westward Journey Mobile both reported record high annual revenues in 2025, with FWJ Online hitting historical peak Q4 revenue and DAU in China.
Successful Global Titles and Expansion
Where Winds Meet surpassed 80 million cumulative players, topped iOS downloads in 60+ regions, reached #2 on Steam global top sellers and delivered its highest monthly revenue and DAU in China in December. Marvel Rivals earned notable industry awards and top rankings (Steam Platinum tier; #2 global; #1 in several markets including US/Canada). Sword of Justice and NARAKA showcased AI-driven gameplay innovation internationally.
AI Integration and Product Innovation
NetEase reported broad, production-level integration of AI across design, programming, art and QA (tools such as CodeMaker, DreamMaker, Danqing). Deployed 10,000+ AI-powered NPCs in Where Winds Meet and launched AI features (voice teammates, UGC tools) that improved engagement and creator activity (Eggy Party tooling empowered >15 million creators).
Profitability and Margin Improvement
Full-year gross profit margin was 64.3%; Q4 gross profit margin increased YoY to 64.2% from 60.8% the prior year, reflecting mix shift toward higher-margin self-developed titles.
Solid Cash Position, Dividend and Buyback
Net cash position at year-end was ~RMB 163.5 billion (up from RMB 131.5 billion). Board approved dividend of USD 0.232 per share (USD 1.16 per ADS). Under a USD 5 billion buyback program, ~22.1 million ADS were repurchased for ~USD 2 billion.
Youdao and Other Business Highlights
Youdao achieved its first-ever net cash inflow from operating activities; Youdao revenue +5% YoY to RMB 5.9 billion (Q4 +17% YoY to RMB 1.6 billion). NetEase Cloud Music saw Q4 revenue growth (+5% YoY to RMB 2.0 billion) and steady growth in active users and engagement.
NTES Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NTES Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $123.52 | $118.50 | -4.06% |
Nov 20, 2025 | $132.88 | $133.41 | +0.40% |
Aug 14, 2025 | $133.79 | $128.60 | -3.88% |
May 15, 2025 | $105.65 | $121.09 | +14.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Netease (NTES) report earnings?
Netease (NTES) is schdueled to report earning on May 26, 2026, After Close (Confirmed).
What is Netease (NTES) earnings time?
Netease (NTES) earnings time is at May 26, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NTES EPS forecast?
NTES EPS forecast for the fiscal quarter 2026 (Q1) is 2.21.
