NetEase Financial Statements
NASDAQ: NTESTechnologyComputer Software: Prepackaged SoftwareUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
NetEase revenue and earnings
In fiscal 2025, NetEase generated $16.11 billion in revenue, up 11.6% from fiscal 2024. Net income was $4.98 billion (+20.0% year over year), for a net margin of 30.9% versus a median of 20.6% in the prior 5 years. Gross margin was 64.3% (up from 62.5%) and operating margin 31.8%.
Diluted earnings per share came in at $1.50, up from $1.26. Over the last 5 fiscal years, NTES's revenue has grown at a 7.4% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
NetEase income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 16.11B | 14.43B | 14.57B | 13.99B | 13.75B | 11.29B | 8.51B | 9.77B | 8.32B | 5.50B |
| Revenue growth (YoY) | +11.65% | -1.01% | +4.16% | +1.77% | +21.77% | +32.68% | -12.88% | +17.46% | +51.22% | — |
| Cost of Revenue | 5.75B | 5.41B | 5.69B | 6.34B | 6.38B | 5.32B | 3.98B | 5.64B | 4.33B | 2.38B |
| Gross Profit | 10.35B | 9.02B | 8.88B | 7.65B | 7.37B | 5.97B | 4.53B | 4.13B | 3.98B | 3.12B |
| Operating Expenses | 5.23B | 4.96B | 4.98B | 4.80B | 4.79B | 3.75B | 2.55B | 2.98B | 2.11B | 1.30B |
| Research & Development | 2.53B | 2.40B | 2.32B | 2.18B | 2.21B | 1.59B | 1.21B | 1.13B | 671.88M | 438.86M |
| Selling, General & Admin | 2.70B | 2.56B | 2.66B | 2.62B | 2.59B | 2.16B | 1.34B | 1.85B | 1.44B | 862.45M |
| Operating Income | 5.12B | 4.05B | 3.90B | 2.85B | 2.58B | 2.23B | 1.98B | 1.15B | 1.87B | 1.82B |
| Other Income (Expense) | 155.37M | 82.49M | 148.40M | 122.78M | 111.48M | 112.98M | 63.12M | 87.15M | 42.59M | 54.40M |
| Pretax Income | 5.84B | 4.89B | 4.80B | 3.52B | 3.31B | 2.36B | 2.35B | 1.30B | 2.00B | 2.00B |
| Income Tax | 862.66M | 748.21M | 661.94M | 729.55M | 647.82M | 466.18M | 418.67M | 358.76M | 332.35M | 302.82M |
| Net Income | 4.98B | 4.15B | 4.13B | 2.88B | 2.66B | 1.89B | 3.08B | 942.10M | 1.67B | 1.67B |
| Net Income growth (YoY) | +20.05% | +0.25% | +43.72% | +8.00% | +40.97% | -38.61% | +226.76% | -43.50% | -0.23% | +60.75% |
| EPS (Basic) | 1.52 | 1.27 | 1.29 | 0.90 | 0.80 | 0.56 | 0.95 | 0.28 | 0.50 | 0.51 |
| EPS (Diluted) | 1.50 | 1.26 | 1.27 | 0.89 | 0.79 | 0.55 | 0.94 | 0.27 | 0.50 | 0.51 |
| Shares Outstanding (Basic) | 3.19B | 3.20B | 3.22B | 3.26B | 3.33B | 3.31B | 3.22B | 3.24B | 3.29B | 3.28B |
| Shares Outstanding (Diluted) | 3.22B | 3.23B | 3.25B | 3.30B | 3.37B | 3.35B | 3.25B | 3.25B | 3.32B | 3.31B |
| EBITDA | 5.45B | 4.38B | 4.33B | 3.26B | 3.09B | 2.76B | 2.36B | 1.45B | 1.99B | 1.87B |
| Gross Margin | 64.29% | 62.50% | 60.95% | 54.68% | 53.62% | 52.92% | 53.27% | 42.29% | 47.90% | 56.74% |
| Operating Margin | 31.82% | 28.10% | 26.78% | 20.34% | 18.74% | 19.74% | 23.28% | 11.75% | 22.46% | 33.08% |
| Net Margin | 30.90% | 28.73% | 28.37% | 20.56% | 19.38% | 16.74% | 36.18% | 9.65% | 20.05% | 30.40% |
This table shows 10 annual periods of NetEase's income statement, from FY 2025 back to FY 2016, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow NTES's reporting calendar. What is a income statement?