NetEase Third Quarter 2023 Earnings: EPS Beats Expectations

NetEase (NASDAQ:NTES) Third Quarter 2023 Results

Key Financial Results

• Revenue: CN¥27.3b (up 12% from 3Q 2022).
• Net income: CN¥7.84b (up 17% from 3Q 2022).
• Profit margin: 29% (up from 27% in 3Q 2022). The increase in margin was driven by higher revenue.
• EPS: CN¥12.19 (up from CN¥10.27 in 3Q 2022).

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

NetEase EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Entertainment industry in the US.

Performance of the American Entertainment industry.

The company's shares are down 1.3% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of NetEase's balance sheet and an in-depth analysis of the company's financial position.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.