NetEase

NTES · NASDAQ · USD

$117.15−2.87%−$3.46

Close · October 2, 2026

At a glance

Revenue growth: +6.96%; 2025 vs 2024
Net income growth: +13.68%; 2025 vs 2024
Net margin: 30.0%; 2024: 28.2%

Financial data

Amounts in millions of CNY; per-share values in CNY; shares in millions.

Income statement · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total revenue	30,107	30,591	27,547	28,359	27,892	28,829	26,748	26,210	25,486	26,852	27,140	27,270
Cost of revenue	8,889	9,374	9,855	10,181	9,839	10,349	10,475	9,733	9,444	9,836	10,315	10,304
Gross profit	21,217	21,217	17,692	18,178	18,052	18,479	16,272	16,477	16,042	17,016	16,825	16,966
Selling, general and administrative	4,484	4,078	4,939	5,622	4,635	3,652	3,981	4,905	4,593	5,219	5,477	5,061
Research and development	4,644	4,482	4,434	4,542	4,357	4,386	4,470	4,424	4,456	4,175	4,479	4,347
Operating income	12,089	12,657	8,319	8,013	9,061	10,441	7,821	7,147	6,993	7,622	6,868	7,558
EBIT	12,089	12,657	8,319	8,013	9,061	10,441	7,821	7,147	6,993	7,622	6,868	7,558
EBITDA	12,529	13,087	9,040	8,631	9,490	10,922	8,519	7,667	7,625	8,190	7,528	8,210
Interest expense	—	—	667	—	—	—	598	—	—	—	884	—
Pre-tax income	9,625	13,369	7,620	10,109	10,649	12,452	10,304	7,996	8,130	9,288	7,745	9,101
Income tax	2,459	2,524	1,250	1,316	1,561	1,905	1,385	1,290	1,301	1,486	1,069	1,290
Net income	6,981	10,674	6,242	8,616	8,601	10,301	8,766	6,538	6,759	7,634	6,582	7,837
Net income to common shareholders	6,981	10,674	6,242	8,616	8,601	10,301	8,766	6,538	6,759	7,634	6,582	7,837
Basic EPS	2.18	3.34	1.96	2.70	2.70	3.25	2.76	2.04	2.10	2.38	2.05	2.44
Diluted EPS	2.17	3.31	1.94	2.67	2.67	3.21	2.73	2.03	2.08	2.35	2.03	2.41
Average shares (basic)	3,203	3,198	3,192	3,191	3,189	3,174	3,174	3,199	3,218	3,212	3,212	3,214
Average shares (diluted)	3,222	3,227	3,228	3,223	3,215	3,206	3,206	3,224	3,243	3,249	3,253	3,250
Dividend per share	0.65	0.99	1.58	0.81	0.82	0.98	1.86	0.61	0.63	0.71	1.47	0.72