NetEase, Inc.
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HANGZHOU, China, Aug. 22, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced its financial results for the first half of 2024 ended June 30, 2024.
Summary of Key Financial Metrics (RMB in thousands, unless otherwise stated)
Six months ended 30 June
2024
2023
(Unaudited)
(Unaudited)
Revenue
4,070,493
3,908,380
Gross profit
1,425,731
965,147
Profit before income tax
813,578
311,961
Profit for the period
809,949
293,750
Non-IFRS measure:
Adjusted net profit (1)
880,749
331,893
HANGZHOU, China, Aug. 22, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Financial Highlights
Net revenues were RMB25.5 billion (US$3.5 billion), an increase of 6.1% compared with the same quarter of 2023.Games and related value-added services net revenues were RMB20.1 billion (US$2.8 billion), an increase of 6.7% compared with the same quarter of 2023.Youdao net revenues were RMB1.3 billion (US$181.9 million), an increase of 9.5% compared with the same quarter of 2023.Cloud Music net revenues were RMB2.0 billion (US$280.8 million), an increase of 4.7% compared with the same quarter of 2023.Innovative businesses and others net revenues were RMB2.1 billion (US$284.5 million), which was relatively stable compared with the same quarter of 2023.Gross profit was RMB16.0 billion (US$2.2 billion), an increase of 11.6% compared with the same quarter of 2023.Total operating expenses were RMB9.0 billion (US$1.2 billion), an increase of 8.9% compared with the same quarter of 2023.Net income attributable to the Company's shareholders was RMB6.8 billion (US$930.0 million). Non-GAAP net income attributable to the Company's shareholders was RMB7.8 billion (US$1.1 billion).[1] Basic net income per share was US$0.29 (US$1.45 per ADS). Non-GAAP basic net income per share was US$0.33 (US$1.67 per ADS).[1]HANGZHOU, China, Aug. 22, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced its financial results for the first half of 2024 ended June 30, 2024.
Summary of Key Financial Metrics (RMB in thousands, unless otherwise stated)
Six months ended 30 June
2024
2023
(Unaudited)
(Unaudited)
Revenue
4,070,493
3,908,380
Gross profit
1,425,731
965,147
Profit before income tax
813,578
311,961
Profit for the period
809,949
293,750
Non-IFRS measure:
Adjusted net profit (1)
880,749
331,893
HANGZHOU, China, May 20, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced an exciting product lineup, content reveals and plans for over 40 game franchises and products at its annual product launch event on May 20.
The 120-minute online event showcased an array of NetEase's vibrant and diversified gaming offerings across genres and platforms. Some highlights from the event include:
