TECH - NetEase's Q1 Earnings: Gaming Giant Shows Resilience with Growth in Cash Flow and Cloud Music | Benzinga
NetEase, Inc (NASDAQ:NTES) reported fiscal first-quarter 2024 revenue growth of 7.2% year-on-year to $3.72 billion (26.9 billion Chinese yuan), missing the analyst consensus estimate of $3.79 billion.
The Chinese gaming player's adjusted EPADS of $1.81 beat the analyst consensus estimate of $1.79.
Segments and margins: Games and related value-added services revenues grew 7.0% year over year to $3.0 billion. The corresponding gross margin increased by 280 bps to 69.5%, attributable to changes in revenue contribution from different platforms and revenues from NetEase's self-developed games.
Youdao, Inc.'s (NYSE:DAO) revenue climbed by 19.7% year ...