NetEase Cloud Music Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag

NetEase Cloud Music (HKG:9899) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥7.95b (up 1.1% from FY 2023).
• Net income: CN¥1.56b (up 113% from FY 2023).
• Profit margin: 20% (up from 9.3% in FY 2023). The increase in margin was primarily driven by lower expenses.
• EPS: CN¥7.48 (up from CN¥3.49 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

NetEase Cloud Music EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 16%.

Looking ahead, revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Entertainment industry in Hong Kong.

Performance of the Hong Kong Entertainment industry.

The company's shares are up 20% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on NetEase Cloud Music's balance sheet.

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