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Sep 30, 2025
NetEase Q3 2025 Earnings Report
NetEase reported strong third quarter results with solid profitability and growth in core gaming operations.
Key Takeaways
NetEase delivered a robust Q3 2025 performance, driven by consistent user engagement across flagship titles and a successful global expansion of its gaming portfolio.
Total revenue reached $3983512000, driven by strong gaming performance.
Net income was $1210236000, reflecting stable profitability.
Fantasy Westward Journey Online achieved record-high peak concurrent users during the quarter.
Global game releases like Destiny: Rising gained traction across Western and Chinese markets.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
NetEase plans to continue expanding its global game releases while reinforcing its strong domestic portfolio. Its pipeline remains healthy heading into 2026.
Positive Outlook
- Destiny: Rising topped download charts in multiple regions.
- Fantasy Westward Journey Online reached a new peak in player engagement.
- New games Sword of Justice and Where Winds Meet launched globally.
- Blizzard titles reignited strong local enthusiasm with exclusive releases.
- Sea of Remnants remains on track for its 2026 release.
Challenges Ahead
- NetEase Cloud Music experienced a slight revenue decline YoY.
- Innovative business revenue dropped significantly YoY.
- Higher marketing costs increased operating expenses.
- Foreign exchange losses impacted net results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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