NetEase Announces First Quarter 2025 Unaudited Financial Results
First Quarter 202 5 Financial Highlights
- Net revenues were
RMB28.8 billion (US$4.0 billion ), an increase of 7.4% compared with the same quarter of 2024.- Games and related value-added services net revenues were
RMB24.0 billion (US$3.3 billion ), an increase of 12.1% compared with the same quarter of 2024. net revenues wereYoudao RMB1 .3 billion (US$178 .9 million), a decrease of 6.7% compared with the same quarter of 2024.- NetEase Cloud Music net revenues were
RMB1 .9 billion (US$256.1 million ), a decrease of 8.4% compared with the same quarter of 2024. - Innovative businesses and others net revenues were
RMB1.6 billion (US$223.8 million ), a decrease of 17.6% compared with the same quarter of 2024.
- Games and related value-added services net revenues were
- Gross profit was
RMB18.5 billion (US$2.5 billion ), an increase of 8.6% compared with the same quarter of 2024. - Total operating expenses were
RMB8.0 billion (US$1.1 billion ), a decrease of 14.4% compared with the same quarter of 2024. - Net income attributable to the Company's shareholders was
RMB10.3 billion (US$1.4 billion ). Non-GAAP net income attributable to the Company's shareholders wasRMB11.2 billion (US$1.5 billion ).[1] - Basic net income per share was
US$0.45 (US$2.24 per ADS). Non-GAAP basic net income per share wasUS$0.49 (US$2.44 per ADS).[1]
[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. |
First Quarter 2025 and Recent Operational Highlights
- Success of recently released titles drove increased traction in the global game market and further diversified our portfolio across genres.
- Marvel Rivals topped Steam's global top sellers chart shortly after its Season 2 update in April 2025.
- Where Winds Meet has maintained strong popularity since its
December 2024 launch, surpassing 30 million registered players as ofMarch 2025 . - FragPunk's March 2025 launch ignited player enthusiasm, ranking No. 6 on Steam's global top sellers chart and amassing over 110,000 peak concurrent players in three days.
- Once Human mobile game quickly claimed the No.1 position on the iOS download charts in more than 160 regions upon its
April 2025 launch, garnering significant global attention.
- Blizzard titles sustained robust momentum, with World of Warcraft and Hearthstone engaging local communities through customized regional events in
China . Additionally, the return of Overwatch pushed its regional peak concurrent players inChina to a new record high. With technical testing initiated onApril 16, 2025 , Diablo 3 is also on track for its return toChina . - Increased the popularity of established titles through targeted events and crossover synergies, including Fantasy Westward Journey Online and mobile game, Infinite Borders, Identity V,
Eggy Party , Naraka: Bladepoint franchises and Justice franchises, highlightingNetEase's strength in long-term game operations. - Strengthened global game pipeline with multiple new titles under development, including MARVEL Mystic Mayhem, Destiny: Rising and Ananta.
-
Youdao remained committed to technology-driven innovation and profitability enhancement, achieving record-high first-quarter operating profit, maintaining the profitability momentum in previous quarters.
"We entered 2025 with solid momentum, fueled by our ongoing innovation and new titles that strengthen our reach across genres and resonate with players around the world," said Mr.
"Alongside our games,
F irst Quarter 202 5 Financial Results
Net Revenues
Net revenues for the first quarter of 2025 were
Net revenues from games and related value-added services were
Net revenues from
Net revenues from
Net revenues from innovative businesses and others were
Gross Profit
Gross profit for the first quarter of 2025 was
Operating Expenses
Total operating expenses for the first quarter of 2025 were
Other Income/(Expenses)
Other income/(expenses) consisted of investment income/(loss), interest income, net exchange gains and others. The quarter-over-quarter decrease was mainly due to decreased net exchange gains. The year-over-year increase was mainly due to lower investment impairment provisions incurred in the first quarter of 2025.
Income Tax
The Company recorded a net income tax charge of
Net Income and Non-GAAP Net Income
Net income attributable to the Company's shareholders totaled
Basic net income was
Non-GAAP net income attributable to the Company's shareholders totaled
Non-GAAP basic net income was
Other Financial Information
As of
Quarterly Dividend
The board of directors approved a dividend of
Under the Company's current dividend policy, the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion of its board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.
Share Repurchase Program
On
The extent to which
**
Conference Call
Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10046898, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10046898. The replay will be available through
This call will be webcast live and the replay will be available for 12 months. Both will be available on
About
Powered by one of the largest in-house game R&D teams focused on mobile, PC and console,
Beyond games,
For more information, please visit: http://ir.netease.com/.
Forward Looking Statements
This announcement contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the
Non-GAAP Financial Measures
Non-GAAP financial measures are not defined under
Contact for Media and Investors:
Email: ir@service.netease.com
Tel: (+86) 571-8985-3378
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||
(in thousands) |
|
|
|
|
|
|
December 31, |
|
March 31, |
|
March 31, |
|
2024 |
|
2025 |
|
2025 |
|
RMB |
|
RMB |
|
USD (Note 1) |
Assets |
|
|
|
|
|
Current assets: |
|
|
|
|
|
Cash and cash equivalents |
51,383,310 |
|
41,748,614 |
|
5,753,113 |
Time deposits |
75,441,355 |
|
81,008,298 |
|
11,163,242 |
Restricted cash |
3,086,405 |
|
3,641,643 |
|
501,832 |
Accounts receivable, net |
5,669,027 |
|
6,742,202 |
|
929,100 |
Inventories |
571,548 |
|
517,787 |
|
71,353 |
Prepayments and other current assets, net |
6,416,868 |
|
6,654,459 |
|
917,009 |
Short-term investments |
10,756,143 |
|
17,357,707 |
|
2,391,956 |
Total current assets |
153,324,656 |
|
157,670,710 |
|
21,727,605 |
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
|
Property, equipment and software, net |
8,520,101 |
|
8,454,460 |
|
1,165,056 |
Land use rights, net |
4,172,465 |
|
4,140,969 |
|
570,641 |
Deferred tax assets |
1,113,435 |
|
1,283,673 |
|
176,895 |
Time deposits |
3,025,000 |
|
3,025,000 |
|
416,856 |
Restricted cash |
5,208 |
|
5,226 |
|
720 |
Other long-term assets |
25,830,685 |
|
26,278,094 |
|
3,621,218 |
Total non-current assets |
42,666,894 |
|
43,187,422 |
|
5,951,386 |
Total assets |
195,991,550 |
|
200,858,132 |
|
27,678,991 |
|
|
|
|
|
|
Liabilities, Redeemable Noncontrolling Interests
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
Accounts payable |
720,549 |
|
565,140 |
|
77,878 |
Salary and welfare payables |
4,683,009 |
|
2,614,923 |
|
360,346 |
Taxes payable |
2,759,185 |
|
4,557,696 |
|
628,067 |
Short-term loans |
11,805,051 |
|
9,824,016 |
|
1,353,786 |
Contract liabilities |
15,299,222 |
|
17,748,602 |
|
2,445,823 |
Accrued liabilities and other payables |
14,400,641 |
|
13,827,806 |
|
1,905,523 |
Total current liabilities |
49,667,657 |
|
49,138,183 |
|
6,771,423 |
|
|
|
|
|
|
Non-current liabilities: |
|
|
|
|
|
Deferred tax liabilities |
2,173,117 |
|
2,671,570 |
|
368,152 |
Long-term loans |
427,997 |
|
- |
|
- |
Other long-term liabilities |
1,228,641 |
|
1,179,135 |
|
162,489 |
Total non-current liabilities |
3,829,755 |
|
3,850,705 |
|
530,641 |
Total liabilities |
53,497,412 |
|
52,988,888 |
|
7,302,064 |
|
|
|
|
|
|
Redeemable noncontrolling interests |
84,272 |
|
86,005 |
|
11,852 |
|
|
|
|
|
|
|
138,685,606 |
|
143,834,194 |
|
19,820,882 |
Noncontrolling interests |
3,724,260 |
|
3,949,045 |
|
544,193 |
Total equity |
142,409,866 |
|
147,783,239 |
|
20,365,075 |
|
|
|
|
|
|
Total liabilities, redeemable noncontrolling |
195,991,550 |
|
200,858,132 |
|
27,678,991 |
|
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|
|
|
|
The accompanying notes are an integral part of this announcement. |
|
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
||||||||
(in thousands, except per share data or per ADS data) |
||||||||
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Three Months Ended |
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|
March 31, |
|
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
|
RMB |
|
RMB |
|
RMB |
|
USD (Note 1) |
|
|
|
|
|
|
|
|
|
Net revenues |
|
26,851,741 |
|
26,747,811 |
|
28,828,545 |
|
3,972,680 |
Cost of revenues |
|
(9,835,821) |
|
(10,475,470) |
|
(10,349,139) |
|
(1,426,149) |
Gross profit |
|
17,015,920 |
|
16,272,341 |
|
18,479,406 |
|
2,546,531 |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
Selling and marketing expenses |
|
(4,022,204) |
|
(2,818,645) |
|
(2,695,597) |
|
(371,463) |
General and administrative expenses |
|
(1,196,475) |
|
(1,162,381) |
|
(956,337) |
|
(131,787) |
Research and development expenses |
|
(4,174,758) |
|
(4,469,868) |
|
(4,386,313) |
|
(604,450) |
Total operating expenses |
|
(9,393,437) |
|
(8,450,894) |
|
(8,038,247) |
|
(1,107,700) |
Operating profit |
|
7,622,483 |
|
7,821,447 |
|
10,441,159 |
|
1,438,831 |
|
|
|
|
|
|
|
|
|
Other income/(expenses): |
|
|
|
|
|
|
|
|
Investment income/(loss), net |
|
179,291 |
|
(506,077) |
|
692,751 |
|
95,464 |
Interest income, net |
|
1,277,597 |
|
1,174,333 |
|
1,060,886 |
|
146,194 |
Exchange gains, net |
|
15,011 |
|
1,535,312 |
|
1,803 |
|
248 |
Other, net |
|
193,888 |
|
278,952 |
|
255,315 |
|
35,183 |
Income before tax |
|
9,288,270 |
|
10,303,967 |
|
12,451,914 |
|
1,715,920 |
Income tax |
|
(1,485,910) |
|
(1,385,014) |
|
(1,905,143) |
|
(262,536) |
Net income |
|
7,802,360 |
|
8,918,953 |
|
10,546,771 |
|
1,453,384 |
|
|
|
|
|
|
|
|
|
Accretion of redeemable noncontrolling |
|
(958) |
|
(1,039) |
|
(1,049) |
|
(145) |
Net income attributable to noncontrolling |
|
(167,456) |
|
(151,435) |
|
(244,565) |
|
(33,702) |
Net income attributable to the
|
|
7,633,946 |
|
8,766,479 |
|
10,301,157 |
|
1,419,537 |
|
|
|
|
|
|
|
|
|
Net income per share * |
|
|
|
|
|
|
|
|
Basic |
|
2.38 |
|
2.76 |
|
3.25 |
|
0.45 |
Diluted |
|
2.35 |
|
2.73 |
|
3.21 |
|
0.44 |
|
|
|
|
|
|
|
|
|
Net income per ADS * |
|
|
|
|
|
|
|
|
Basic |
|
11.88 |
|
13.81 |
|
16.23 |
|
2.24 |
Diluted |
|
11.75 |
|
13.67 |
|
16.06 |
|
2.21 |
|
|
|
|
|
|
|
|
|
Weighted average number of ordinary
|
|
|
|
|
|
|
|
|
Basic |
|
3,211,665 |
|
3,174,113 |
|
3,173,899 |
|
3,173,899 |
Diluted |
|
3,249,452 |
|
3,206,100 |
|
3,206,362 |
|
3,206,362 |
|
|
|
|
|
|
|
|
|
* Each ADS represents five ordinary shares. |
|
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|
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|
The accompanying notes are an integral part of this announcement. |
|
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|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
(in thousands) |
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|
|
|
|
|
|
|
|
|
Three Months Ended |
||||||
|
|
March 31, |
|
December 31, |
|
March 31, |
|
March 31, |
|
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
|
RMB |
|
RMB |
|
RMB |
|
USD (Note 1) |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net income |
|
7,802,360 |
|
8,918,953 |
|
10,546,771 |
|
1,453,384 |
Adjustments to reconcile net income to net cash provided |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
567,923 |
|
697,447 |
|
480,761 |
|
66,251 |
Fair value changes of equity security and other investments |
|
(368,258) |
|
358,852 |
|
(558,499) |
|
(76,963) |
Impairment losses on investments |
|
128,417 |
|
422,801 |
|
89,071 |
|
12,274 |
Fair value changes of short-term investments |
|
(60,810) |
|
(241,431) |
|
(201,609) |
|
(27,782) |
Share-based compensation cost |
|
894,300 |
|
931,444 |
|
951,872 |
|
131,170 |
Allowance for expected credit losses |
|
11,600 |
|
12,031 |
|
16,771 |
|
2,311 |
Losses/(gains) on disposal of property, equipment and software |
|
2,132 |
|
(3,644) |
|
20,293 |
|
2,797 |
Unrealized exchange gains |
|
(17,509) |
|
(1,542,986) |
|
(28,453) |
|
(3,921) |
(Gains)/losses on disposal of long-term investments, |
|
(13,487) |
|
232 |
|
11,675 |
|
1,609 |
Deferred income taxes |
|
485,054 |
|
404,109 |
|
328,272 |
|
45,237 |
Share of results on equity method investees and revaluation |
|
164,271 |
|
(19,437) |
|
(18,668) |
|
(2,572) |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
(1,358,711) |
|
517,850 |
|
(1,088,960) |
|
(150,063) |
Inventories |
|
91,378 |
|
42,135 |
|
53,773 |
|
7,410 |
Prepayments and other assets |
|
326,140 |
|
(432,196) |
|
(295,178) |
|
(40,676) |
Accounts payable |
|
(7,001) |
|
218,689 |
|
(148,076) |
|
(20,405) |
Salary and welfare payables |
|
(2,178,608) |
|
1,759,382 |
|
(2,085,111) |
|
(287,336) |
Taxes payable |
|
1,271,822 |
|
154,651 |
|
1,796,123 |
|
247,512 |
Contract liabilities |
|
1,574,086 |
|
(209,626) |
|
2,526,198 |
|
348,119 |
Accrued liabilities and other payables |
|
242,070 |
|
1,022,944 |
|
(290,374) |
|
(40,015) |
Net cash provided by operating activities |
|
9,557,169 |
|
13,012,200 |
|
12,106,652 |
|
1,668,341 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Purchase of property, equipment and software |
|
(415,018) |
|
(311,982) |
|
(454,071) |
|
(62,573) |
Proceeds from sale of property, equipment and software |
|
3,506 |
|
9,295 |
|
1,336 |
|
184 |
Purchase of intangible assets, content and licensed copyrights |
|
(188,821) |
|
(120,387) |
|
(298,771) |
|
(41,172) |
Net changes of short-term investments with terms of three months or less |
|
2,401,649 |
|
3,798,989 |
|
(6,138,556) |
|
(845,916) |
Purchase of short-term investments with terms over three months |
|
- |
|
(4,560,000) |
|
(2,970,000) |
|
(409,277) |
Proceeds from maturities of short-term investments with terms over three months |
|
- |
|
2,853,778 |
|
2,708,601 |
|
373,255 |
Investment in long-term investments and acquisition of subsidiaries |
|
(481,804) |
|
(201,686) |
|
(90,966) |
|
(12,535) |
Proceeds from disposal of long-term investments, businesses, |
|
85,456 |
|
355,142 |
|
77,428 |
|
10,670 |
Placement/rollover of matured time deposits |
|
(34,558,836) |
|
(21,691,769) |
|
(49,601,807) |
|
(6,835,312) |
Proceeds from maturities of time deposits |
|
46,048,382 |
|
40,570,700 |
|
43,926,482 |
|
6,053,231 |
Change in other long-term assets |
|
(34,625) |
|
(73,553) |
|
(678) |
|
(93) |
Net cash provided by/(used in) investing activities |
|
12,859,889 |
|
20,628,527 |
|
(12,841,002) |
|
(1,769,538) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Net changes from loans with terms of three months or less |
|
(399,726) |
|
606,092 |
|
(2,254,415) |
|
(310,667) |
Proceeds of loans with terms over three months |
|
6,998,250 |
|
457,000 |
|
2,747,550 |
|
378,623 |
Payment of loans with terms over three months |
|
(957,000) |
|
- |
|
(2,935,677) |
|
(404,547) |
Net amounts received related to capital contribution from |
|
42,214 |
|
51,614 |
|
42,517 |
|
5,859 |
Cash paid for repurchase of |
|
(1,233,780) |
|
(1,595,093) |
|
(303,601) |
|
(41,837) |
Dividends paid to |
|
(4,945,016) |
|
(1,982,595) |
|
(5,584,532) |
|
(769,569) |
Net cash used in by financing activities |
|
(495,058) |
|
(2,462,982) |
|
(8,288,158) |
|
(1,142,138) |
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash, cash equivalents and |
|
(43,138) |
|
113,792 |
|
(56,932) |
|
(7,845) |
Net increase/(decrease) in cash, cash equivalents and restricted cash |
|
21,878,862 |
|
31,291,537 |
|
(9,079,440) |
|
(1,251,180) |
Cash, cash equivalents and restricted cash, at the beginning of the period |
|
24,206,658 |
|
23,183,386 |
|
54,474,923 |
|
7,506,845 |
Cash, cash equivalents and restricted cash, at end of the period |
|
46,085,520 |
|
54,474,923 |
|
45,395,483 |
|
6,255,665 |
|
|
|
|
|
|
|
|
|
Supplemental disclosures of cash flow information: |
|
|
|
|
|
|
|
|
Cash paid for income taxes, net |
|
1,182,711 |
|
603,514 |
|
1,206,555 |
|
166,268 |
Cash paid for interest expenses |
|
146,455 |
|
24,343 |
|
97,424 |
|
13,425 |
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of this announcement. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED SEGMENT INFORMATION |
||||||||
(in thousands) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
||||||
|
|
March 31, |
|
December 31, |
|
March 31, |
|
March 31, |
|
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
|
RMB |
|
RMB |
|
RMB |
|
USD (Note 1) |
Net revenues: |
|
|
|
|
|
|
|
|
Games and related value-added services |
|
21,460,378 |
|
21,242,410 |
|
24,048,007 |
|
3,313,904 |
|
|
1,391,859 |
|
1,339,798 |
|
1,298,262 |
|
178,905 |
NetEase Cloud Music |
|
2,029,541 |
|
1,880,490 |
|
1,858,388 |
|
256,093 |
Innovative businesses and others |
|
1,969,963 |
|
2,285,113 |
|
1,623,888 |
|
223,778 |
Total net revenues |
|
26,851,741 |
|
26,747,811 |
|
28,828,545 |
|
3,972,680 |
|
|
|
|
|
|
|
|
|
Cost of revenues: |
|
|
|
|
|
|
|
|
Games and related value-added services |
|
(6,555,311) |
|
(7,075,562) |
|
(7,495,262) |
|
(1,032,875) |
|
|
(710,356) |
|
(699,045) |
|
(684,035) |
|
(94,263) |
NetEase Cloud Music |
|
(1,259,006) |
|
(1,279,951) |
|
(1,175,777) |
|
(162,026) |
Innovative businesses and others |
|
(1,311,148) |
|
(1,420,912) |
|
(994,065) |
|
(136,985) |
Total cost of revenues |
|
(9,835,821) |
|
(10,475,470) |
|
(10,349,139) |
|
(1,426,149) |
|
|
|
|
|
|
|
|
|
Gross profit: |
|
|
|
|
|
|
|
|
Games and related value-added services |
|
14,905,067 |
|
14,166,848 |
|
16,552,745 |
|
2,281,029 |
|
|
681,503 |
|
640,753 |
|
614,227 |
|
84,642 |
NetEase Cloud Music |
|
770,535 |
|
600,539 |
|
682,611 |
|
94,067 |
Innovative businesses and others |
|
658,815 |
|
864,201 |
|
629,823 |
|
86,793 |
Total gross profit |
|
17,015,920 |
|
16,272,341 |
|
18,479,406 |
|
2,546,531 |
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of this announcement. |
NOTES TO UNAUDITED FINANCIAL INFORMATION
Note 1: The conversion of Renminbi (RMB) into
Note 2: Share-based compensation cost reported in the Company's unaudited condensed consolidated statements of comprehensive income is set out as follows in RMB and USD (in thousands):
|
|
|
|
|
|
|
|
|
|
RMB in thousands |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
|
|
RMB |
|
RMB |
|
RMB |
|
USD (Note 1) |
Share-based compensation cost included in: |
|
|
|
|
|
|
|
|
|
Cost of revenues |
|
|
254,935 |
|
304,687 |
|
233,711 |
|
32,206 |
Operating expenses |
|
|
|
|
|
|
|
|
|
Selling and marketing expenses |
|
|
17,869 |
|
7,435 |
|
32,578 |
|
4,489 |
General and administrative expenses |
|
|
289,636 |
|
246,424 |
|
261,259 |
|
36,002 |
Research and development expenses |
|
|
331,860 |
|
372,898 |
|
424,324 |
|
58,473 |
|
|
|
|
|
|
|
|
|
|
Note 3: The financial information prepared and presented in this announcement might be different from those published and to be published by
Note 4: The unaudited reconciliation of GAAP and non-GAAP results is set out as follows in RMB and USD (in thousands, except per share data or per ADS data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS |
||||||||
(in thousands, except per share data or per ADS data) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
||||||
|
|
March 31, |
|
December 31, |
|
March 31, |
|
March 31, |
|
|
2024 |
|
2024 |
|
2025 |
|
2025 |
|
|
RMB |
|
RMB |
|
RMB |
|
USD (Note 1) |
Net income attributable to the Company's shareholders |
|
7,633,946 |
|
8,766,479 |
|
10,301,157 |
|
1,419,537 |
Add: Share-based compensation |
|
876,898 |
|
915,489 |
|
935,570 |
|
128,925 |
Non-GAAP net income attributable to the Company's shareholders |
|
8,510,844 |
|
9,681,968 |
|
11,236,727 |
|
1,548,462 |
|
|
|
|
|
|
|
|
|
Non-GAAP net income per share * |
|
|
|
|
|
|
|
|
Basic |
|
2.65 |
|
3.05 |
|
3.54 |
|
0.49 |
Diluted |
|
2.62 |
|
3.02 |
|
3.50 |
|
0.48 |
|
|
|
|
|
|
|
|
|
Non-GAAP net income per ADS * |
|
|
|
|
|
|
|
|
Basic |
|
13.25 |
|
15.25 |
|
17.70 |
|
2.44 |
Diluted |
|
13.10 |
|
15.09 |
|
17.51 |
|
2.41 |
|
|
|
|
|
|
|
|
|
* Each ADS represents five ordinary shares. |
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of this announcement. |
|
|
|
|
|
|
|
|
View original content:https://www.prnewswire.com/news-releases/netease-announces-first-quarter-2025-unaudited-financial-results-302456373.html
SOURCE