The Zhitong Finance App learned that NetEase (NTES.US) rose 7% to $128.29 on Friday. According to the news, on August 20, NetEase announced that total net revenue for the second quarter was 30.11 billion yuan and game revenue of 25.02 billion yuan, all exceeding market expectations; gross profit was 21.22 billion yuan, an increase of 17.5% over the previous year. Online game revenue increased 10% year-on-year to 24.5 billion yuan. The Group's gross margin increased from 64.7% to 70.5%, and the gross margin of games and related services reached 76.1%, mainly due to a decrease in channel sharing costs.
Zhitongcaijing · 3d ago
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The Zhitong Finance App learned that NetEase (NTES.US) rose 7% to $128.29 on Friday. According to the news, on August 20, NetEase announced that total net revenue for the second quarter was 30.11 billion yuan and game revenue of 25.02 billion yuan, all exceeding market expectations; gross profit was 21.22 billion yuan, an increase of 17.5% over the previous year. Online game revenue increased 10% year-on-year to 24.5 billion yuan. The Group's gross margin increased from 64.7% to 70.5%, and the gross margin of games and related services reached 76.1%, mainly due to a decrease in channel sharing costs.
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