Netease Q2 Net Revenues Were $3.5 Billion, an Increase of 12.8% YoY-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Netease Q2 Net Revenues Were $3.5 Billion, an Increase of 12.8% YoY

Tiger Newspress2022-08-18

NetEase today announced its unaudited financial results for the second quarter endedJune 30, 2022. NetEase net revenues were RMB23.2 billion(US$3.5 billion), an increase of 12.8% compared with the second quarter of 2021.

NetEase shares gained 2.57% after posting financial results.Games and related value-added services net revenues wereRMB18.1 billion(US$2.7 billion), an increase of 15.0% compared with the second quarter of 2021.

Youdao net revenues wereRMB956.2 million(US$142.8 million), a decrease of 26.1% compared with the second quarter of 2021.

Cloud Music net revenues wereRMB2.2 billion(US$327.2 million), an increase of 29.5% compared with the second quarter of 2021.

Innovative businesses and others net revenues wereRMB1.9 billion(US$279.4 million), an increase of 6.1% compared with the second quarter of 2021.

Gross profit wasRMB12.9 billion(US$1.9 billion), an increase of 15.7% compared with the second quarter of 2021.

Total operating expenses wereRMB8.0 billion(US$1.2 billion), an increase of 7.6% compared with the second quarter of 2021.

Net income from continuing operations attributable to the Company's shareholders wasRMB4.7 billion(US$696.7 million). Non-GAAP net income from continuing operations attributable to the Company's shareholders wasRMB5.4 billion(US$807.7 million).[2]

Basic net income from continuing operations per share wasUS$0.21(US$1.07per ADS). Non-GAAP basic net income from continuing operations per share wasUS$0.25(US$1.23per ADS).

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·2022-08-18
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