The gaming segment remained the primary revenue driver, contributing RMB25.0 billion, a 9.7% rise year-over-year. CEO William Ding attributed this performance to sustained player interest in both established franchises like Fantasy Westward Journey and newer titles such as Where Winds Meet. While gaming revenue grew, the company’s bottom line faced pressure from a decline in the fair value of equity investments and higher research and development spending, which rose to RMB4.6 billion for the quarter.

Beyond its core gaming business, NetEase’s education subsidiary, Youdao, reported revenue of RMB1.5 billion, bolstered by growth in learning services. Meanwhile, NetEase Cloud Music maintained stability with RMB2.0 billion in revenue. Looking forward, the company is prioritizing its AI-native strategy and expanding its global footprint, with new titles like Sea of Remnants recently entering the market to bolster its development pipeline.