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<Research>CLSA Expects NetEase (NTES.US) 3Q Rev. to Fall 6% YoY, Adj. EBIT to Drop 4% to RMB8B
Recommend 2 Positive 12 Negative 4 |
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CLSA released a research report expecting NetEase, Inc. (NTES.US)'s 3Q24 results to be disappointing, with total revenue down 6% YoY to RMB25.7 billion, and adjusted EBIT down 4% YoY to RMB8 billion. Of which, game revenue will fall 6% YoY, mainly due to an over 50% YoY decline in total revenue from Justice Online mobile version and Eggy Party. In addition, NetEase planned to launch Marvel Rival in December 2024 and Once Human mobile version in January 2025. CLSA kept its target price/ rating at US$120/ Outperform on NetEase unchanged. AAStocks Financial News |
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