NetEase, Inc. (HKEX shares) (NETEASE) income statement

HKSE · Technology · Electronic Gaming & Multimedia · 25,382 employees · CEO Lei Ding

Price: HK$177.50 +0.45%
Market cap: HK$568B
Enterprise value: CN¥466B
Last report: Q2 '26 filed 2026-06-30
Next report: 2026-11-12

NetEase, Inc. (HKEX shares) (NETEASE) reported revenue of CN¥30B for Q2 '26 (+7.5% year on year), operating income of CN¥12B (40.2% of revenue) and net income of CN¥6.95B. Over the last four quarters revenue was CN¥116B.

Income statement

Income statement	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Revenue	CN¥27.3B	CN¥27.1B	CN¥26.9B	CN¥25.5B	CN¥26.2B	CN¥26.7B	CN¥28.8B	CN¥27.9B	CN¥28.4B	CN¥27.5B	CN¥30.6B	CN¥30B
Cost of revenue	CN¥10.3B	CN¥10.3B	CN¥9.84B	CN¥9.44B	CN¥9.73B	CN¥10.5B	CN¥10.3B	CN¥9.84B	CN¥10.2B	CN¥9.85B	CN¥9.37B	CN¥8.85B
Gross profit	CN¥17B	CN¥16.8B	CN¥17B	CN¥16B	CN¥16.5B	CN¥16.3B	CN¥18.5B	CN¥18.1B	CN¥18.2B	CN¥17.7B	CN¥21.2B	CN¥21.1B
Research & development	CN¥4.35B	CN¥4.48B	CN¥4.17B	CN¥4.46B	CN¥4.42B	CN¥4.47B	CN¥4.39B	CN¥4.36B	CN¥4.54B	CN¥4.43B	CN¥4.48B	CN¥4.62B
Sales & marketing	CN¥3.57B	CN¥4.23B	CN¥4.02B	CN¥3.5B	CN¥3.81B	CN¥2.82B	CN¥2.7B	CN¥3.58B	CN¥4.46B	CN¥3.89B	CN¥3.44B	CN¥0
General & administrative	CN¥1.49B	CN¥1.25B	CN¥1.2B	CN¥1.09B	CN¥1.1B	CN¥1.16B	CN¥956M	CN¥1.06B	CN¥1.16B	CN¥1.05B	CN¥637M	CN¥0
Operating expenses	CN¥9.41B	CN¥9.96B	CN¥9.39B	CN¥9.05B	CN¥9.33B	CN¥8.45B	CN¥8.04B	CN¥8.99B	CN¥10.2B	CN¥9.37B	CN¥8.56B	CN¥9.09B
Operating income	CN¥7.56B	CN¥6.87B	CN¥7.62B	CN¥6.99B	CN¥7.15B	CN¥7.82B	CN¥10.4B	CN¥9.06B	CN¥8.01B	CN¥8.32B	CN¥12.7B	CN¥12B
Interest income	CN¥1.15B	CN¥1.26B	CN¥1.28B	CN¥1.19B	CN¥1.28B	CN¥1.17B	CN¥1.06B	CN¥953M	CN¥937M	CN¥1.67B	CN¥890M	CN¥860M
Other non-operating income (gains on investments, FX ...)	-CN¥1.54B	-CN¥876M	-CN¥1.67B	-CN¥1.14B	-CN¥849M	-CN¥2.48B	-CN¥2.01B	-CN¥1.59B	-CN¥2.1B	CN¥699M	-CN¥713M	CN¥0
Total non-operating income	CN¥1.54B	CN¥876M	CN¥1.67B	CN¥1.14B	CN¥849M	CN¥2.48B	CN¥2.01B	CN¥1.59B	CN¥2.1B	-CN¥699M	CN¥713M	-CN¥2.45B
Income before tax	CN¥9.1B	CN¥7.74B	CN¥9.29B	CN¥8.13B	CN¥8B	CN¥10.3B	CN¥12.5B	CN¥10.6B	CN¥10.1B	CN¥7.62B	CN¥13.4B	CN¥9.58B
Income tax	CN¥1.29B	CN¥1.07B	CN¥1.49B	CN¥1.3B	CN¥1.29B	CN¥1.39B	CN¥1.91B	CN¥1.56B	CN¥1.32B	CN¥1.25B	CN¥2.52B	CN¥2.45B
Net income	CN¥7.84B	CN¥6.58B	CN¥7.63B	CN¥6.76B	CN¥6.54B	CN¥8.77B	CN¥10.3B	CN¥8.6B	CN¥8.62B	CN¥6.24B	CN¥10.7B	CN¥6.95B
EPS (basic)	CN¥2.44	CN¥2.05	CN¥2.38	CN¥2.10	CN¥2.04	CN¥2.76	CN¥3.25	CN¥2.70	CN¥2.70	CN¥1.93	CN¥3.34	CN¥2.17
EPS (diluted)	CN¥2.41	CN¥2.03	CN¥2.35	CN¥2.08	CN¥2.03	CN¥2.73	CN¥3.21	CN¥2.67	CN¥2.67	CN¥1.90	CN¥3.31	CN¥2.15
Shares (basic, weighted)	3.21B	3.21B	3.21B	3.22B	3.22B	3.17B	3.17B	3.19B	3.19B	3.19B	3.2B	3.2B
Shares (diluted, weighted)	3.25B	3.25B	3.25B	3.24B	3.22B	3.21B	3.21B	3.21B	3.22B	3.23B	3.23B	3.22B
Depreciation & amortization	CN¥652M	CN¥660M	CN¥568M	CN¥632M	CN¥521M	CN¥697M	CN¥481M	CN¥428M	CN¥618M	CN¥720M	CN¥431M	CN¥439M
EBITDA	CN¥9.75B	CN¥8.4B	CN¥9.86B	CN¥8.76B	CN¥8.52B	CN¥11B	CN¥12.9B	CN¥11.1B	CN¥10.7B	CN¥8.34B	CN¥13.8B	CN¥12.5B

Income statement	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	CN¥38.2B	CN¥44.4B	CN¥51.2B	CN¥59.2B	CN¥73.7B	CN¥87.6B	CN¥96.5B	CN¥103B	CN¥105B	CN¥113B
Cost of revenue	CN¥16.5B	CN¥19.4B	CN¥23.8B	CN¥27.7B	CN¥34.7B	CN¥40.6B	CN¥43.7B	CN¥40.4B	CN¥39.5B	CN¥40.2B
Gross profit	CN¥21.7B	CN¥25B	CN¥27.3B	CN¥31.6B	CN¥39B	CN¥47B	CN¥52.8B	CN¥63.1B	CN¥65.8B	CN¥72.4B
Research & development	CN¥3.05B	CN¥4.16B	CN¥7.38B	CN¥8.41B	CN¥10.4B	CN¥14.1B	CN¥15B	CN¥16.5B	CN¥17.5B	CN¥17.7B
Sales & marketing	CN¥4.48B	CN¥5.5B	CN¥6.91B	CN¥6.22B	CN¥10.7B	CN¥12.2B	CN¥13.4B	CN¥14B	CN¥14.1B	CN¥14.6B
General & administrative	CN¥1.51B	CN¥2.38B	CN¥3.08B	CN¥3.13B	CN¥3.37B	CN¥4.26B	CN¥4.7B	CN¥4.9B	CN¥4.55B	CN¥4.23B
Operating expenses	CN¥9.03B	CN¥12B	CN¥17.4B	CN¥17.8B	CN¥24.4B	CN¥30.6B	CN¥33.1B	CN¥35.4B	CN¥36.2B	CN¥36.6B
Operating income	CN¥12.6B	CN¥13B	CN¥9.98B	CN¥13.8B	CN¥14.5B	CN¥16.4B	CN¥19.6B	CN¥27.7B	CN¥29.6B	CN¥35.8B
Interest income	CN¥542M	CN¥667M	CN¥588M	CN¥822M	CN¥1.6B	CN¥1.52B	CN¥2.15B	CN¥4.12B	CN¥4.92B	CN¥4.62B
Other non-operating income (gains on investments, FX ...)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	-CN¥4.69B	-CN¥4.62B	-CN¥6.35B	-CN¥6.13B	-CN¥5B
Total non-operating income	CN¥1.27B	CN¥845M	CN¥1.1B	CN¥2.59B	CN¥834M	CN¥4.69B	CN¥4.62B	CN¥6.35B	CN¥6.13B	CN¥5B
Income before tax	CN¥13.9B	CN¥13.8B	CN¥11.1B	CN¥16.4B	CN¥15.4B	CN¥21.1B	CN¥24.3B	CN¥34.1B	CN¥35.7B	CN¥40.8B
Income tax	CN¥2.1B	CN¥2.16B	CN¥2.47B	CN¥2.91B	CN¥3.04B	CN¥4.13B	CN¥5.03B	CN¥4.7B	CN¥5.46B	CN¥6.03B
Net income	CN¥11.6B	CN¥10.7B	CN¥6.15B	CN¥21.2B	CN¥12.1B	CN¥16.9B	CN¥20.3B	CN¥29.4B	CN¥29.7B	CN¥33.8B
EPS (basic)	CN¥3.54	CN¥3.51	CN¥2.56	CN¥4.12	CN¥3.65	CN¥5.07	CN¥6.04	CN¥9.15	CN¥9.28	CN¥10.58
EPS (diluted)	CN¥3.51	CN¥3.48	CN¥2.55	CN¥4.08	CN¥3.60	CN¥5.01	CN¥5.98	CN¥9.05	CN¥9.19	CN¥10.45
Shares (basic, weighted)	3.28B	3.29B	3.24B	3.22B	3.31B	3.33B	3.26B	3.22B	3.2B	3.19B
Shares (diluted, weighted)	3.31B	3.32B	3.25B	3.25B	3.35B	3.37B	3.3B	3.25B	3.23B	3.23B
Depreciation & amortization	CN¥328M	CN¥802M	CN¥2.08B	CN¥2.61B	CN¥3.46B	CN¥3.28B	CN¥2.86B	CN¥3.06B	CN¥2.42B	CN¥2.25B
EBITDA	CN¥13B	CN¥13.8B	CN¥12B	CN¥16.4B	CN¥18B	CN¥24.4B	CN¥27.1B	CN¥37.1B	CN¥38.1B	CN¥43.1B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Revenue, operating income and growth

quarterly

Margins

quarterly

Costs as % of revenue

quarterly

The other statements

Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in HKD.