NetEase's Q1 Earnings: Gaming Giant Shows Resilience With Growth in Cash Flow and Cloud Music
NetEase's Q1 Earnings: Gaming Giant Shows Resilience With Growth in Cash Flow and Cloud Music
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.
网易公司（纳斯达克股票代码：NTES）报告称，2024财年第一季度收入同比增长7.2％，达到37.2亿美元（269亿元人民币），未达到分析师共识估计的37.9亿美元。
The Chinese gaming player's adjusted EPADS of $1.81 beat the analyst consensus estimate of $1.79.
这家中国游戏玩家调整后的EPADS为1.81美元，超过了分析师普遍预期的1.79美元。
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.
细分市场和利润率：游戏及相关增值服务收入同比增长7.0％，达到30亿美元。相应的毛利率增长了280个基点至69.5％，这要归因于不同平台的收入贡献以及网易自主开发游戏的收入的变化。
Youdao, Inc.'s (NYSE:DAO) revenue climbed by 19.7% year over year to $192.8 million, but the corresponding gross margin declined by 270 bps to 49.0%, mainly due to increased revenue contribution from its online marketing services.
Youdao, Inc. 's（纽约证券交易所代码：DAO）收入同比增长19.7％，至1.928亿美元，但相应的毛利率下降了270个基点至49.0％，这主要是由于其在线营销服务的收入贡献增加。
Cloud Music's revenues were $281.1 million, up 3.6% year over year, and its gross margin expanded by 1,560 bps to 38.0%.
云音乐的收入为2.811亿美元，同比增长3.6％，毛利率增长了1,560个基点至38.0％。
Innovative businesses and other revenue grew by 6.1% year over year to $272.8 million, and the gross margin increased by 800 bps to 33.4% due to improved gross profit margins from Yanxuan and several other businesses included within the segment.
创新业务和其他收入同比增长6.1％，达到2.728亿美元，毛利率增长800个基点至33.4％，这要归因于燕宣和该细分市场中包括的其他几项业务的毛利率的提高。
As of March 31, 2024, NetEase held $15.7 billion in cash and equivalents and generated $1.3 billion in operating cash flow.
截至2024年3月31日，网易持有157亿美元的现金及等价物，创造了13亿美元的运营现金流。
Dividend: The board of directors has approved a dividend of $0.4950 per ADS for the first quarter of 2024.
股息：董事会已批准2024年第一季度每份ADS的股息为0.4950美元。
"With a portfolio featuring premium-quality games and more diversification across genres, we are well-positioned to extend our exciting gaming experiences to audiences around the globe," said Mr. William Ding, Chief Executive Officer and Director of NetEase.
网易首席执行官兼董事威廉·丁先生表示：“凭借以优质游戏为特色的产品组合以及更多样化的游戏类型，我们完全有能力将激动人心的游戏体验扩展到全球观众。”
NetEase stock gained over 17% in the last 12 months. Investors can gain exposure to the stock via VanEck Video Gaming And ESports ETF (NASDAQ:ESPO) and Global X Video Games & Esports ETF (NASDAQ:HERO).
网易股票在过去12个月中上涨了17％以上。投资者可以通过VanEck电子游戏和电子竞技ETF（纳斯达克股票代码：ESPO）和Global X电子游戏和电子竞技ETF（纳斯达克股票代码：HERO）获得股票敞口。
Price Action: NTES shares traded lower by 3.62% at $94.80 premarket at the last check Thursday.
价格走势：在周四的最后一次盘前支票中，NTES股价下跌3.62％，至94.80美元。