On the afternoon of February 29, Beijing time, Sina Technology News reported that NetEase (Nasdaq: NTES; HKEX: 9999) today released financial results for the fourth quarter and full year of 2023 ending December 31. Net revenue for the fourth quarter was $27.14 billion, up 7.0% year over year. Net profit attributable to NetEase shareholders was 6.6 billion yuan, compared to 7.8 billion yuan and 4 billion yuan for the previous quarter and the same period last year, respectively. Net profit from continuing operations attributable to NetEase shareholders was 7.4 billion yuan, compared to 8.6 billion yuan and 4.8 billion yuan for the previous quarter and the same period of the previous year, respectively, in accordance with US GAAP.
For the full year of 2023, net revenue was 103.5 billion yuan, compared to 96.5 billion yuan in 2022. Net profit attributable to NetEase shareholders was 29.4 billion yuan, compared to 20.3 billion yuan in 2022. Based on non-US GAAP, net profit from continuing operations attributable to NetEase shareholders was $32.6 billion, compared to $22.8 billion in 2022.
Fourth quarter results:
Net revenue was 27.14 billion yuan (approximately US$3.8 billion), compared to 27.3 billion yuan and 25.4 billion yuan for the previous quarter and the same period last year, respectively.
Net revenue from games and related value-added services was 20.9 billion yuan (approximately US$2.9 billion), compared to 21.8 billion yuan and 19.1 billion yuan for the previous quarter and the same period last year, respectively. Among them, net revenue from online game operations accounted for about 93.4% of this segment's net revenue, compared to 93.7% and 91.8% in the previous quarter and the same period last year, respectively. Net revenue from mobile games accounts for about 76.7% of net revenue from online game operations, compared to 77.6% and 66.4% in the previous quarter and the same period last year, respectively.
Net revenue from NetEase Youdao was 1.5 billion yuan (approximately US$208.5 million), compared to 1.5 billion yuan in the previous quarter and the same period last year.
Net revenue from Cloud Music was 2 billion yuan (approximately US$279.7 million), compared to 2 billion yuan and 2.4 billion yuan for the previous quarter and the same period last year, respectively.
Net revenue from innovation and other businesses was $2.8 billion (approximately US$387.7 million), compared to $2 billion and $2.4 billion for the previous quarter and the same period last year, respectively.
As of December 31, 2023, the company has purchased approximately 7.2 million American Depositary Shares, totaling approximately US$644 million.