NASDAQ$NTES
NetEase Inc.-ADR · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
NetEase Q1 2026: RMB30.6B revenue (+6.1% YoY), RMB10.7B net income; games up 6.9%
NetEase reported Q1 2026 net revenues of RMB30.6 billion (US$4.4 billion), up 6.1% year-over-year, driven by a 6.9% increase in games and related value-added services to RMB25.7 billion. Gross profit rose 14.8% to RMB21.2 billion while total operating expenses increased 6.5% to RMB8.6 billion. Net income attributable to shareholders was RMB10.7 billion (US$1.5 billion), with non-GAAP net income of RMB11.3 billion. Basic EPS was US$0.48 (US$2.42 per ADS) and non-GAAP basic EPS was US$0.51. The company declared a quarterly dividend of US$0.144 per share and continued its US$5.0 billion share repurchase program, having repurchased 23.2 million ADSs for US$2.1 billion through March 31.
- Total net revenues grew 6.1% YoY to RMB30.6B, with games revenue up 6.9% to RMB25.7B on strength in Fantasy Westward Journey and Where Winds Meet
- Gross profit increased 14.8% to RMB21.2B as cost of revenues declined, reflecting lower revenue-sharing costs and product costs
- Net income attributable to shareholders was RMB10.7B; non-GAAP net income was RMB11.3B with basic EPS of US$0.48
- Net cash totaled RMB167.5B as of March 31; operating cash flow was RMB13.7B in the quarter
- Board approved a US$0.144/share dividend payable June 2026; share repurchase program extended through January 2029
Headline financials
Revenue & EPS history
NetEase · Revenue · Quarterly
¥30.6B
Revenue by segment
NetEase · ¥30.5B total across 4 segments · Q1 2026
- Games and related VAS¥25.7B—84.3%
- NetEase Cloud Music¥2B—6.6%
- Innovative businesses and others¥1.5B—4.9%
- Youdao¥1.3B—4.3%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
-0.0%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.4%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+16.7%
Q4 2016
Best reaction
-17.2%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.4% | — | — | |
| Q4 2025 | -4.1% | -2.4% | -4.9% | |
| Q3 2025 | +0.5% | +4.9% | +3.0% | |
| Q1 2025 | +14.6% | +13.0% | +20.8% | |
| Q4 2024 | -2.6% | -4.4% | -6.8% | |
| Q3 2024 | +12.1% | +12.3% | +25.1% | |
| Q1 2024 | -8.0% | -7.3% | -8.8% | |
| Q4 2023 | -3.9% | -5.6% | -7.8% | |
| Q3 2023 | +1.8% | +1.2% | -10.6% | |
| Q2 2023 | -3.8% | +2.2% | -0.8% | |
| Q1 2023 | +7.2% | +1.8% | +11.5% | |
| Q4 2022 | -8.6% | -9.8% | +3.9% | |
| Q3 2022 | -5.5% | -8.2% | -0.0% | |
| Q2 2022 | -7.5% | -4.4% | -9.7% | |
| Q1 2022 | +0.5% | +7.2% | -6.4% | |
| Q4 2021 | +8.9% | +2.1% | +2.3% | |
| Q3 2021 | +1.2% | +3.9% | -11.1% | |
| Q2 2021 | +8.1% | +3.8% | -4.7% | |
| Q1 2021 | +5.1% | +11.9% | +5.7% | |
| Q4 2020 | -6.5% | -6.3% | -11.5% | |
| Q3 2020 | +9.4% | +14.1% | +10.9% | |
| Q2 2020 | -2.8% | +1.1% | -4.0% | |
| Q1 2020 | +2.2% | -2.5% | +7.2% | |
| Q4 2019 | -4.7% | -8.2% | -10.8% | |
| Q3 2019 | +2.0% | +5.6% | +5.8% | |
| Q2 2019 | +11.9% | +10.6% | +31.1% | |
| Q1 2019 | +6.4% | -1.8% | +1.4% | |
| Q4 2018 | -4.7% | -2.4% | +1.2% | |
| Q3 2018 | +8.0% | +8.9% | +15.8% | |
| Q2 2018 | -13.9% | -17.5% | -26.1% | |
| Q1 2018 | -7.6% | -12.3% | -4.3% | |
| Q4 2017 | -7.7% | -6.0% | -0.4% | |
| Q3 2017 | +9.3% | +15.2% | +19.2% | |
| Q2 2017 | -8.1% | -9.8% | -11.7% | |
| Q1 2017 | +1.8% | +4.5% | +11.7% | |
| Q4 2016 | +16.7% | +16.1% | +13.8% | |
| Q3 2016 | -8.2% | -12.5% | -10.2% | |
| Q2 2016 | -2.6% | -0.3% | +11.6% | |
| Q1 2016 | +1.7% | — | — | |
| Q4 2015 | -13.4% | — | — | |
| Q3 2015 | +4.2% | — | — | |
| Q2 2015 | -5.4% | — | — | |
| Q1 2015 | +10.3% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | +4.4% | — | — | |
| Q2 2014 | +3.3% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | +1.0% | — | — | |
| Q3 2013 | -1.1% | — | — | |
| Q2 2013 | +3.7% | — | — | |
| Q1 2013 | -2.9% | — | — | |
| Q4 2012 | +6.7% | — | — | |
| Q3 2012 | -17.2% | — | — | |
| Q2 2012 | +2.0% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q1 2012 | -5.7% | — | — | |
| Q3 2011 | -13.2% | — | — | |
| Q4 2010 | +0.7% | — | — | |
| Q4 2009 | +0.7% | — | — | |
| Q4 2008 | +0.7% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q1 2011 | +7.6% | — | — | |
| Q3 2010 | -5.0% | — | — | |
| Q2 2010 | +3.1% | — | — | |
| Q1 2010 | -3.1% | — | — |
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