NetEase Non-GAAP EPADS of $1.93 Beats By $0.68, Revenue of $3.3B Misses By $160M

seekingalpha2023-08-24

NetEase (NASDAQ:NTES): Q2 Non-GAAP EPADS of $1.93 beats by $0.68. Revenue of $3.3B (+3.7% Y/Y) misses by $160M.

NetEase shares slipped 3% after posting financial results.

Games and related value-added services net revenues were $2.6 billion, an increase of 3.6% compared with the second quarter of 2022.

Youdao net revenues were $166.4 million, an increase of 26.2% compared with the second quarter of 2022.

Cloud Music net revenues were $268.7 million, a decrease of 11.1% compared with the second quarter of 2022.

Innovative businesses and others net revenues were $283.7 million, an increase of 9.9% compared with the second quarter of 2022.

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