Investopediaยท2024-08-22 22:36Group 1 - NetEase reported a second-quarter net income of 6.8 billion yuan (approximately $952 million), representing a 17% year-over-year decline and falling short of analysts' expectations [1][2] - The company's revenue for the quarter was 25.5 billion yuan (about $3.6 billion), which is a 6.1% increase year-over-year but still below expectations [1] - Following the earnings report, NetEase's stock experienced a decline of 11.17% [1] Group 2 - Revenue growth was primarily driven by games and related value-added services, which increased by 6.7% to 20.1 billion yuan (approximately $2.8 billion) [2] - Notable performances were seen in the games "Naraka: Bladepoint" and "Identity V," both achieving record daily active users (DAUs) [2] - CEO William Ding emphasized the company's commitment to innovation and expanding its gaming portfolio to reach more players globally [2]