Net revenues from games and related value-added services reached US$2.6 billion
NetEase, Inc. announced its unaudited financial results for the second quarter ended June 30, 2023. The company reported net revenues of RMB24.0 billion (US$3.3 billion) for the quarter, marking a 3.7% increase from the same period in 2022. Notable financial highlights include:
Net revenues from games and related value-added services reached RMB18.8 billion (US$2.6 billion), up 3.6% compared to the same quarter in 2022.
Youdao net revenues were RMB1.2 billion (US$166.4 million), indicating a growth of 26.2% compared to the second quarter of 2022.
Cloud Music net revenues amounted to RMB1.9 billion (US$268.7 million), showing a decrease of 11.1% from the second quarter of 2022.
Innovative businesses and others achieved net revenues of RMB2.1 billion (US$283.7 million), marking an increase of 9.9% from the second quarter of 2022.
Gross profit for the quarter was RMB14.4 billion (US$2.0 billion), reflecting an 11.1% increase from the same quarter in 2022. Total operating expenses were RMB8.3 billion (US$1.1 billion), a 4.0% increase from the second quarter of 2022. Net income attributable to the company’s shareholders was RMB8.2 billion (US$1.1 billion), while non-GAAP net income from continuing operations was RMB9.0 billion (US$1.2 billion).
The company reported that it released new successful game titles across various genres during June, solidifying its global presence. NetEase’s Chief Executive Officer, Mr. William Ding, emphasized the company’s commitment to producing high-quality content and services to enhance user experiences and drive industry growth.
