NetEase reported RMB105.3 billion in 2024 revenue on Feb 20, 2025, with fourth-quarter revenue down 1.4%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Feb 20, 2025, NetEase announced unaudited results for the fourth quarter and fiscal year ended Dec 31, 2024, in a Form 6-K, the report a foreign private issuer files with the US Securities and Exchange Commission. Net revenues for the quarter were RMB26.7 billion (US$3.7 billion), down 1.4% from the same quarter of 2023, when they were RMB27.1 billion. For the year, net revenues were RMB105.3 billion (US$14.4 billion), against RMB103.5 billion for 2023. NetEase gave the US dollar amounts for convenience, at the Dec 31, 2024 noon buying rate of RMB7.2993 to the dollar, and calculated its percentages in renminbi.1^,2^,3^,4^,5^,6^,7^,8

Games and related value-added services brought in RMB21.2 billion (US$2.9 billion) in the quarter, up 1.5% from RMB20.9 billion in the same quarter of 2023, and RMB83.6 billion for the year, against RMB81.6 billion. Mobile games made up about 65.3% of online-game revenue in the quarter, against 76.7% a year earlier, a change NetEase put down mainly to more revenue from PC games, including certain licensed titles.9^,10^,11^,12

Net income attributable to shareholders was RMB8.8 billion (US$1.2 billion) for the quarter, against RMB6.6 billion in the same quarter of 2023, and RMB29.7 billion (US$4.1 billion) for the year, against RMB29.4 billion. Operating profit for the quarter was RMB7.82 billion, against RMB6.87 billion a year earlier. Other income and expenses, which hold investment results, interest income and exchange gains or losses, rose mainly because of net exchange gains in the quarter, against net exchange losses in the preceding quarter and in the same quarter of 2023, NetEase said. Its own non-GAAP measure, which excludes share-based compensation expenses, put the quarter's net income attributable to shareholders at RMB9.7 billion (US$1.3 billion); non-GAAP means outside US accounting rules.13^,14^,15^,16^,17^,18^,19

NetEase said Marvel Rivals, which it develops and publishes, topped Steam's global top sellers chart shortly after its launch on Dec 6, reached over 10 million registered users within 72 hours and over 40 million by the date of the release. It said the game's Season 1 update in January 2025 took the No. 1 places on Steam's top sellers and most-played charts worldwide. It added that Blizzard's World of Warcraft and Hearthstone kept drawing strong enthusiasm from the Chinese gaming community and that the return of Overwatch 2 on Feb 19, 2025 further fueled players' passion.20^,21^,22^,23

The board approved a dividend of US$0.24405 per share for the fourth quarter of 2024, or US$1.22025 per American depositary share (ADS), each of which represents five ordinary shares, to holders as of the close of business on Mar 6, 2025. NetEase said it expected to pay it on Mar 17, 2025 for ordinary shares and on or around Mar 20, 2025 for ADSs.24^,25^,26

NetEase's annual report on Form 20-F, the yearly report a foreign company files, later gave revenue of $14.43 billion and operating income of $4.05 billion for 2024, in US dollars.27^,28