NetEase (NTES) Faces Revenue and Profit Declines Amid Game Performance Lag

Oct 24, 2024

Shares of NetEase (NTES, Financial) continue their downward trend, with a 1% drop in pre-market trading following a 1.22% decline previously. Recent analysis by China International Capital Corporation (CICC) points to a subdued performance in some of NetEase's new games in the third quarter, which has prompted a revision in the company's financial outlook.

CICC reports that NetEase's revenue is expected to decrease by 6% year-over-year to 25.7 billion RMB for the quarter. Furthermore, the non-GAAP net profit is projected to decline by 18% to 7.1 billion RMB. The firm's online gaming revenue is anticipated to fall by 7% compared to the previous year, with mobile gaming experiencing an 11% drop.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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