NetEase Q4 Earnings Up, Despite Reduced Revenues

(RTTNews) - NetEase, Inc. (NTES) Thursday announced that fourth profit grew from the prior year, while revenues were down 1.4 percent. Youdao and Cloud Music revenues declined from the previous year fourth quarter.

Quarterly earnings attributable to the Company was RMB8.8 billion or $1.2 billion, compared with RMB6.6 billion for the same quarter last year. On a per share basis, earnings were $0.38 or $1.89 per ADS, compared to $0.28 or $1.40 per ADS in the previous year.

On an adjusted basis, earnings were RMB9.7 billion or $1.3 billion for the fourth quarter of 2024, compared with RMB7.4 billion a year ago.

Adjusted earnings per share was $0.42 or $2.09 per ADS for the fourth quarter of 2024, compared with $0.32 per share $1.57 per ADS for the same quarter last year.

Fourth quarter revenues for the internet and game services provider were RMB26.7 billion $3.7 billion, down from RMB27.1 billion a year ago. Net revenues from Youdao were RMB1.3 billion or $183.6 million, compared with RMB1.5 billion a year ago. Net revenues from NetEase Cloud Music were RMB1.9 billion $257.6 million, compared with RMB2.0 billion in the same quarter of 2023.

The company said its board has approved a dividend of $0.24405 per share $1.22025 per ADS for the fourth quarter of 2024 to holders of ordinary shares and holders of ADSs as of the close of business on March 6, 2025, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars.