TapTechNews May 23rd news, NetEase released its first quarter 2024 report ending March 31 today:
Net revenue was 26.9 billion yuan, an increase of 7.2% year-on-year.
Net profit was 7.6 billion yuan, while it was 6.6 billion yuan in the previous quarter and 6.8 billion yuan in the same period last year.
Excluding US GAAP, net profit was 8.5 billion yuan, while it was 7.4 billion yuan in the previous quarter and 7.6 billion yuan in the same period last year.
TapTechNews attached the following highlights of the performance:
The net income of games and related value-added services was 21.5 billion yuan (3 billion US dollars), an increase of 7.0% compared to the first quarter of 2023.
The net income of Youdao was 1.4 billion yuan (192.8 million US dollars), an increase of 19.7% compared to the first quarter of 2023.
The net income of Cloud Music was 2 billion yuan (281.1 million US dollars), an increase of 3.6% compared to the first quarter of 2023.
The net income of innovative businesses and other businesses was 2 billion yuan (272.8 million US dollars), an increase of 6.1% compared to the first quarter of 2023.
Gross profit was 17 billion yuan (2.4 billion US dollars), an increase of 14.2% compared to the first quarter of 2023.
Total operating expenses were 9.4 billion yuan (1.3 billion US dollars), an increase of 22.4% compared to the first quarter of 2023.
The net profit attributable to shareholders of the company was 7.6 billion yuan (1.1 billion US dollars).
The non-GAAP net profit attributable to shareholders of the company was 8.5 billion yuan (1.2 billion US dollars).
Earnings per basic share was 0.33 US dollars (1.65 US dollars per American Depositary Share).
Non-GAAP earnings per basic share was 0.37 US dollars (1.84 US dollars per American Depositary Share).