NetEase Inc’s (NTES) 4Q Earnings: Revenue Misses Estimates across Various Sectors
Netease’s 4Q revenue missed estimates, coming in at 27.14 billion yuan against an estimate of 28.2 billion yuan.
The revenue from Games and Related Value-Added Services was 20.92 billion yuan, less than the estimated 21.83 billion yuan.
The Innovative Businesses and Others brought in a net revenue of 2.75 billion yuan, slightly above the estimated 2.56 billion yuan.
Youdao’s net revenue was 1.48 billion yuan, which is lower than the estimated 1.6 billion yuan.
Cloud Music’s net revenue was 1.99 billion yuan, slightly less than the estimated 2.05 billion yuan.
The adjusted net income from continuing operations per ADS was 11.34 yuan.
The gross profit was 16.83 billion yuan, less than the estimated 17.08 billion yuan.
The Games and Related Value-Added Services gross profit was 14.54 billion yuan, more than the estimated 14.37 billion yuan.
Youdao’s gross profit was 738.8 million yuan, less than the estimated 847.7 million yuan.
Cloud Music’s Gross Profit was 601.0 million yuan, more than the estimated 571.9 million yuan.
The Innovative Businesses & Others gross profit was 947.4 million yuan, significantly more than the estimated 704.9 million yuan.
The Games and Related Value-Added Services gross profit margin was 69.5%, slightly higher than the estimated 68.6%.
Youdao’s gross profit margin was 49.9%, less than the estimated 53.3%.
The Innovative Businesses & Others Gross Profit margin was 34.4%, significantly higher than the estimated 27.3%.
Cloud Music’s Gross Profit Margin was 30.3%, higher than the estimated 27.5%.
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