Technology Author：EqualOcean News , Jiahao Yang May 18, 2021 06:02 PM (GMT+8)

On May 18, NetEase announced its latest financials for Q1 2021, along with record-high revenue and net income. 

Netease

  • Revenue had a year-on-year increase of 20.2% to CNY 20.5 billion.

  • The net profit attributable to shareholders of the company expanded to CNY 4.4 billion, a jump of 25.0% year-on-year.

  • Under non-GAAP, the net profit attributable to shareholders of the company swelled to CNY 5.1 billion.

  • The net income of online game services achieved CNY 15 billion, a growth of 10.8% year-on-year, with a gross profit margin improved from 64.1% to 64.6%.

  • Net revenue of Youdao surged 147.5% year-on-year to CNY 1.3 billion with gross margin boosted from 43.5% to 57.3%. 

  • The net income of innovation and other businesses was CNY 4.2 billion, which extended 39.7% year-on-year with gross margin dipped from 15.8% to 14.4%

  • Total operating expenses were CNY 6.7 billion compared to CNY 6.9 billion and CNY 4.9 billion for Q4 2020 and Q1 2020, respectively.