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Earnings Call: Youdao Narrows Losses and Targets Future Profitability
Significant reduction in losses! Netease Youdao's operating cash flow in the second quarter of 2024 reached a net inflow of 0.25 billion yuan, an 88.2% year-on-year increase | Financial Report Insights
The gross margin of youdao in Q2 2024 was 48.2%, while it was 47.0% in the same period of 2023. CEO Zhou Feng said that it was correct not to adopt a low stock price strategy before and will not participate in price wars in the future.
Youdao, Inc. (DAO) Q3 2024 Earnings Call Transcript Summary
NetEase Q2: Revenue Falls Short, Gaming Segment Shines
Youdao | 6-K: Report of foreign private issuer (related to financial reporting)
Netease announced its Q2 financial report: revenue of 25.5 billion yuan, a year-on-year growth of 6%.
NetEase released its financial report for the second quarter of 2024. The report shows that NetEase's Q2 revenue was 25.5 billion yuan, a year-on-year growth of 6%. The net income attributable to the company's shareholders under non-GAAP was 7.8 billion yuan, and the performance maintained steady growth. Research and development investment during the quarter was 4.5 billion yuan, with a research and development investment intensity of over 17%, leading the industry. It is reported that in the second quarter, NetEase Games and related value-added services generated revenue of 20.1 billion yuan, and several long-term popular games such as Identity V experienced a resurgence, ranking at the top of the iOS bestseller list. NetEase Cloud Music generated revenue of 2 billion yuan. Youdao's revenue was 1.3 billion yuan.
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