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<Results>NTES-S 3Q NP Drops 16.6% to RMB6.538B, Behind Forecast; Non-GAAP NP Dips 13.3%
Recommend 14 Positive 8 Negative 27 |
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NTES-S (09999.HK) announced net profit of RMB6.538 billion for the third quarter ended September, down 16.6% YoY, worse than the median YoY decline of 11.3% predicted by 5 brokers compiled by this website. Non-GAAP net profit was RMB7.5 billion, down 13.3% YoY. The Board of Directors declared a quarterly dividend of US$0.087 per share (US$0.435 per ADS). In the third quarter, NetEase reported net revenues of RMB26.2 billion, down 3.9% YoY. Games and related value-added services net revenues declined 4.2% YoY to RMB20.9 billion. Youdao net revenues climbed 2.2% YoY to RMB1.6 billion. NetEase Cloud Music net revenues added 1.3% YoY to RMB2 billion; and innovative businesses and others net revenues dropped 10.3% YoY to RMB1.8 billion. NetEase noted that a number of highly anticipated products in the making, including Destiny: Rising and MARVEL Mystic Mayhem, and new games, such as Marvel Rivals and Where Winds Meet, set for launch in December. As of September 30, NetEase had purchased approximately 18.2 million ADSs, totaling approximately US$1.6 billion, under its share repurchase program. NetEase (NTES.US) leaped 4.02% to US$79.35 in pre-market. AAStocks Financial News |
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