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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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
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