Resilient Gaming Drive: NetEase Shines in Post-Pandemic Landscape Despite Q2 Hiccups
Portfolio Pulse from Anusuya Lahiri
NetEase, Inc reported Q2 FY23 revenue growth of 3.7% to $3.31 billion, missing the consensus of $3.46 billion. Games and related services revenues grew 3.6% to $2.59 billion. Youdao, Inc revenue climbed by 26.2% to $166.4 million. Cloud Music's revenues were $268.7 million, down by 11.1%. Innovative businesses and other revenue rose 9.9% to $283.7 million. NetEase held $13.7 billion in cash and equivalents and generated $1.1 billion in operating cash flow. The board approved a dividend of $0.5250 per ADS for Q2.
August 24, 2023 | 12:14 pm
News sentiment analysis
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POSITIVE IMPACT
Youdao, Inc reported a 26.2% increase in revenue to $166.4 million.
Youdao's significant increase in revenue could positively impact investor sentiment, leading to an increase in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
NetEase reported lower than expected Q2 FY23 revenue growth and its shares traded lower by 3.55% premarket.
NetEase's lower than expected Q2 FY23 revenue growth could negatively impact investor sentiment, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100