Xin Jing Bao·2025-11-20 11:56Core Insights - NetEase reported a net revenue of 28.4 billion yuan for Q3 2025, representing a year-on-year growth of 8.2% [2] - The net profit attributable to shareholders was 8.6 billion yuan, while the non-GAAP net profit attributable to shareholders was 9.5 billion yuan [2] Revenue Breakdown - NetEase Cloud Music generated a net revenue of 2 billion yuan in Q3, marking a year-on-year decline of 1.8%. This follows three consecutive quarters of revenue declines of 3.5%, 8.4%, and 5.3% respectively [2] - Revenue from games and related value-added services reached 23.3 billion yuan, showing a year-on-year increase of 11.8% [2] - Youdao's net revenue was 1.6 billion yuan, reflecting a year-on-year growth of 3.6% [2] - Revenue from innovation and other businesses amounted to 1.4 billion yuan, which is a year-on-year decrease of 18.9% [2]