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NetEase first quarter net profit of 569.9 million US dollars an increase of 59.4%

via:博客园     time:2017/5/11 13:30:35     readed:911

According to foreign reports, NetEase (Nasdaq: NTES) on Wednesday released the company as of March 31, 2017, the first quarter of unaudited financial results. NetEase first quarter net revenue of 13.6 billion yuan (about 2 billion US dollars), an increase of 72.3%; attributable to shareholders of the company's net profit of 3.9 billion yuan (about 569.9 million US dollars), an increase of 59.4% %.

First quarter Main results:

NetEase first quarter net income of 13.641 billion yuan (1.982 billion US dollars), the previous quarter and the same period last year were 12.099 billion yuan and 7.915 billion yuan.

"In the self-study tour business driven, our first quarter of the results of remarkable. We continue to content innovation, the number of users continued to grow, Netease CEO and director Ding Lei said, the first quarter, we released a number of new travel products and travel information, continue to promote the advertising business And further develop our electricity business. & Rdquo;

NetEase 2017 first quarter online game service net income of 10.735 billion yuan (1.56 billion US dollars), the previous quarter and the same period last year were 8.959 billion yuan and 6.015 billion yuan. In the quarter, net income from hand travel accounted for 73.3% of net gaming revenue, compared with 64.4% and 63.7% in the previous quarter and the same period last year.

Ding Lei said, "we have been the introduction of foreign excellent game works to enrich the domestic online game market." We are very honored to have the first round of "my world" in April. At the same time, we are through the independent issue, the popular game "Onmyouji" and "bright continent" to overseas. & Rdquo;

In the game operation, this quarter, "Onmyouji" issued in Japan, to further expand the overseas market. As of February 20, 2017, the global download volume reached 200 million. NetEase released this quarter, the new hand tour contains "town magic song" hand tour, "Westward Journey version" and "bright continent" and so on, the player feedback is good. NetEase agent since the Blizzard Entertainment "slag legend" quarterly active users hit a record high, and in April 2017 released the latest expansion package "brave Anguoluo".

Net income for advertising services for the first quarter of 2017 was RMB445 million (US $ 64.68 million), compared with RMB665 million and RMB393 million for the previous quarter and the same period last year. The best performing industries for the quarter were transportation, real estate and communications.

Net income for E-mail, electricity business and other businesses in the first quarter of 2017 was RMB2.460 billion (US $ 357 million), compared with RMB2,475 million and RMB1,507 million for the same period last year.

"The pursuit of excellence has always been the cornerstone of our business development. In the media business, we put a lot of resources, content and product level to enhance. Our business business, such as cross-border business-based integrated electric business platform Netease koala and self-brand NetEase strict to maintain a healthy development trend. We hope that through these attempts and efforts to continuously expand the user community, enhance the user experience, to maintain the sustainable development of our business, "Ding concluded.

Gross profit of 7.48 billion yuan, consolidated gross margin of 54.9%

NetEase first quarter gross profit of 7.484 billion yuan (1.087 billion US dollars), the previous quarter and the same period last year were 6.463 billion yuan and 4.587 billion yuan. The first quarter consolidated gross margin of 54.9%, the previous quarter and the same period last year were 53.4% ​​and 58.0%.

Netease 2017 first quarter online game service gross margin growth mainly due to hand tour, such as "Onmyouji", "Ghost Story" and "town magic song" hand tour, as well as agents from Blizzard Entertainment "watch the vanguard" and " World of Warcraft "income contribution. Online game gross margin growth is mainly due to the contribution of hand travel income, such as "Onmyouji", "Ghost Story" and "town magic song" hand tour. Business gross margin was 63.9%, compared with 60.7% and 67.1% in the previous quarter and the same period last year. Online game gross margin year-on-year change is mainly due to relatively low gross margin of hand travel income in the total revenue in the game increased. Online game gross margin change is mainly due to the relatively low gross margin this quarter, the proportion of agency game revenue decline, and the first quarter of a one-time confirmation of the agency game copyright fees, and this quarter is relatively low gross margin Hand travel income in the game total revenue in the proportion of the increase in part offset.

NetEase in the first quarter of 2017 gross margin of advertising services is mainly due to seasonal factors caused by the decline in revenue. Operating margin was 57.3%, compared with 66.5% and 62.4% in the previous quarter and same period last year. The decrease in gross profit margin was mainly due to the increase in labor costs and content purchasing costs. The decline in gross margin was mainly due to the decline in revenue due to seasonal factors.

NetEase in the first quarter of 2011 mailbox, electricity and other business gross margin growth was mainly due to Netease koala and other electricity business business revenue growth. Mail, electricity and other business gross margin decline mainly due to Netease some relatively high gross margin of electricity business business income decline. Business gross margin was 14.8%, compared with 23.4% and 20.4% in the previous quarter and same period last year. Gross margin year-on-year and ring-to-quarter change mainly due to Netease's relatively high gross margin of electricity business business revenue decline.

Operating costs of 2.71 billion yuan, operating costs of 19.9%

NetEase first quarter operating expenses of 271.2 billion yuan ($ 394 million), the previous quarter and the same period last year were 2.597 billion yuan and 1.179 billion yuan. Operating expenses in the first quarter were 19.9%, compared with 21.5% and 21.7% in the previous quarter and the same period last year.

The increase in operating expenses was due to an increase in the marketing expenses of online games, an increase in R & D investment, an increase in the number of employees and an increase in the average salary, and an increase in operating expenses for Netease Koala. The increase in operating expenses was mainly due to the increase in staff costs due to the increase in the number of employees and the average salary.

Net profit of 3.92 billion yuan, net profit margin of 28.8%

NetEase operating profit in the first quarter of 2017 was RMB4,772 million (US $ 693 million), compared with RMB8.667 billion and RMB2,868 million in the previous quarter and the same period last year. The operating margin for the first quarter of 2017 was 35.0%, compared with 32.0% and 36.2% in the previous quarter and the same period last year.

NetEase first quarter of the company's income tax expense of 943 million yuan (137 million US dollars), the previous quarter and the same period last year were 882 million yuan and 531 million yuan. The effective tax rate for the first quarter of 2017 was 19.0%, compared with 19.2% and 17.5% in the previous quarter and the same period last year. The change in the effective tax rate reflects the Group's estimate of the effective tax rate for the first quarter of 2017.

NetEase NetEase shareholders in the first quarter of net profit attributable to Netease 3.93 billion yuan (5.70 billion US dollars), the previous quarter and the same period last year were 3.683 billion yuan and 2.461 billion yuan, an increase of 59.4% %. NetEase first quarter net profit margin of 28.8%, the previous quarter and the same period last year were 30.4% and 31.1%.

Based on non-US GAAP, net profit attributable to NetEase shareholders for the first quarter of 2017 was RMB4.336 billion (US $ 630 million), compared to RMB3,977 million and RMB2.666 billion for the same period last year.

In the first quarter of 2017, the Company recorded net exchange losses of RMB45.83 million (US $ 7.05 million). Net income for the previous quarter and the same period last year was RMB90.46 million and net exchange losses of RMB36.63 million. The change in net exchange gains and losses is mainly due to the conversion of the Company's US dollar bank deposits and loan balances with fluctuations in the exchange rate of the US dollar.

Net income per ADS for the first quarter of 2017 was $ 4.33 (basic) and $ 4.29 (diluted). The previous quarter was $ 4.08 (basic) and $ 4.04 (diluted), compared with $ 2.72 (basic) and $ 2.70 (diluted) for the same period last year.

Based on non-US GAAP, net income per ADS for the first quarter of 2017 was $ 4.79 (basic) and $ 4.75 (diluted), up from $ 4.38 (base) and $ 4.34 (diluted) last quarter Compared with $ 2.94 (basic) and $ 2.92 (diluted) for the same period.

other information

On March 31, 2017, the Group's cash and cash equivalents, time deposits and short-term investments totaled RMB46,043 million (US $ 5.95 billion), up to RMB36,933 million as at 31 December 2016. Net cash inflow from operating activities for the first quarter of 2017 was approximately RMB4,031 million (US $ 586 million), compared with RMB3,579 million for the previous quarter and RMB3,093 million for the same period last year.

Market expectations and share price performance:

NetEase first quarter results better than market expectations. Thomson Reuters survey, market analysts had expected the average, not in accordance with the US GAAP, NetEase first quarter revenue of 1.72 billion US dollars, diluted earnings per American Depositary Receipt of 3.98 US dollars.

NetEase shares rose $ 7.15 on the Nasdaq Stock Exchange on Wednesday, or 2.63 percent, to close at $ 279.05. In the subsequent after-hours trading, by the performance of the market expected to promote, to the press, Netease shares rose 9.84 US dollars, or 3.53%, the stock price of 288.89 US dollars. Over the past 52 weeks, NetEase lowest price of 139.57 US dollars, the highest price of 308.66 US dollars. According to Wednesday's closing price, NetEase market value of about 36.6 billion US dollars. (Compiled / Mingxuan)

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