Netease Reports Revenue of RMB25.4 Billion In Q4, up 4% YoY

Tiger Newspress2023-02-23
  • NetEase press release (NASDAQ:NTES): Q4 Non-GAAP EPADS of $1.08 misses by $0.08.
  • Revenue of $3.7B (+4.0% Y/Y) in-line.
  • Gross profit was $1.9B, an increase of 2.5% compared with the fourth quarter of 2021.
  • The effective tax rate for the fourth quarter of 2022 was 20.2%, compared with 19.3% and 14.2% for the preceding quarter and the fourth quarter of 2021, respectively.

NetEase, Inc. (NASDAQ: NTES and HKEX: 9999) today announced its unaudited financial results for the fourth quarter and fiscal year endedDecember 31, 2022.

Fourth Quarter 2022 Financial Highlights

  • Net revenues were RMB25.4 billion (US$3.7 billion), an increase of 4.0% compared with the fourth quarter of 2021.

- Games and related value-added services net revenues were RMB19.1 billion (US$2.8 billion), an increase of 1.6% compared with the fourth quarter of 2021.

-Youdaonet revenues were RMB1.5 billion (US$210.8 million), an increase of 9.0% compared with the fourth quarter of 2021.

-Cloud Musicnet revenues were RMB2.4 billion (US$344.5 million), an increase of 25.8% compared with the fourth quarter of 2021.

- Innovative businesses and others net revenues were RMB2.4 billion (US$353.5 million), an increase of 3.4% compared with the fourth quarter of 2021.

  • Gross profit was RMB13.2 billion (US$1.9 billion), an increase of 2.5% compared with the fourth quarter of 2021.
  • Total operating expenses were RMB8.8 billion (US$1.3 billion), an increase of 6.0% compared with the fourth quarter of 2021.
  • Net income attributable to the Company's shareholders was RMB4.0 billion (US$573.1 million). Non-GAAP net income from continuing operations attributable to the Company's shareholders was RMB4.8 billion (US$697.6 million).[1]
  • Basic net income per share was US$0.18 (US$0.88per ADS). Non-GAAP basic net income from continuing operations per share wasUS$0.22(US$1.08per ADS).
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