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NetEase (NTES) Revenue by Segment

Revenue by Segment

Shows how much each business unit contributes to total sales, providing insight into diversification, growth areas, and potential vulnerabilities in revenue streams.

CNY 0.00CNY 5.00BCNY 10.00BCNY 15.00BCNY 20.00BCNY 25.00BCNY 30.00BMar 21Jun 21Sep 21Dec 21Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Chart Insights

NetEase’s growth is increasingly concentrated in Games & Related VAS—recent quarters show outsized contribution from blockbuster titles and a clear margin improvement driven by mix and lower platform revenue sharing. Non‑games (Cloud & Music, Youdao, Innovative) are flat or drifting down, creating a two‑speed business where weaknesses in e‑commerce/ads and music offset some gains. The strong cash, dividend and buyback program plus elevated marketing spend signal management is doubling down on content and globalization, but competition in open‑world releases and higher S&M raise execution risk on sustaining game momentum.

NTES Revenue by Segment

DateGames and Related Value Added ServicesYoudaoCloud and MusicInnovative Businesses and Other
Jun 30, 2026CNY 25.02BCNY 1.47BCNY 1.98BCNY 1.64B
Mar 31, 2026CNY 25.71BCNY 1.35BCNY 1.98BCNY 1.55B
Dec 31, 2025CNY 21.97BCNY 1.56BCNY 1.97BCNY 2.05B
Sep 30, 2025CNY 23.33BCNY 1.63BCNY 1.96BCNY 1.44B
Jun 30, 2025CNY 22.81BCNY 1.42BCNY 1.97BCNY 1.70B
Mar 31, 2025CNY 24.05BCNY 1.30BCNY 1.86BCNY 1.62B
Dec 31, 2024CNY 21.24BCNY 1.34BCNY 1.88BCNY 2.29B
Sep 30, 2024CNY 20.86BCNY 1.57BCNY 2.00BCNY 1.77B
Jun 30, 2024CNY 20.06BCNY 1.32BCNY 2.04BCNY 2.07B
Mar 31, 2024CNY 21.46BCNY 1.39BCNY 2.03BCNY 1.97B
Dec 31, 2023CNY 20.92BCNY 1.48BCNY 1.99BCNY 2.75B
Sep 30, 2023CNY 21.78BCNY 1.54BCNY 1.97BCNY 1.98B
Jun 30, 2023CNY 18.80BCNY 1.21BCNY 1.95BCNY 2.06B
Mar 31, 2023CNY 20.07BCNY 1.16BCNY 1.96BCNY 1.86B
Dec 31, 2022CNY 19.09BCNY 1.45BCNY 2.38BCNY 2.44B
Sep 30, 2022CNY 18.70BCNY 1.40BCNY 2.36BCNY 1.97B
Jun 30, 2022CNY 18.14BCNY 956.23MCNY 2.19BCNY 1.87B
Mar 31, 2022CNY 17.27BCNY 1.20BCNY 2.07BCNY 3.02B
Dec 31, 2021CNY 18.79BCNY 1.33BCNY 1.89BCNY 2.36B
Sep 30, 2021CNY 17.15BCNY 1.39BCNY 1.92BCNY 1.73B
Jun 30, 2021CNY 15.77BCNY 1.29BCNY 1.69BCNY 1.76B
Mar 31, 2021CNY 14.98BCNY 1.34BCNY 1.49BCNY 2.70B