Core Insights - NetEase Youdao achieved record high performance in the first half of 2025, driven by AI technology [1][2] - The company reported a net income of 1.42 billion yuan in Q2, a year-on-year increase of 7.2%, and operating profit of 28.8 million yuan, marking its first profitable Q2 [1] - The "AI-native" strategy has led to significant commercialization results in education and advertising sectors, enabling sustainable profitability for four consecutive quarters [1] Financial Performance - In the first half of the year, NetEase Youdao's total net income reached 2.7 billion yuan, with operating cash flow narrowing by 49.9% year-on-year [1] - The learning services segment generated a net income of 660 million yuan in Q2, a 2.2% increase year-on-year, with digital content services contributing 450 million yuan [1] - The AI subscription service sales reached nearly 80 million yuan in Q2, growing approximately 30% year-on-year [1] AI Technology and Product Development - The launch of the "Ziyue" model in July 2023 has enhanced the application of large models in the education sector, with the accuracy rate of K12 math problem-solving exceeding 95% [2] - The company introduced the "Ziyue 3" math model, the first of its kind focused on math education in China, significantly reducing service costs to $0.15 per million tokens [2] - New products like the Youdao Dictionary Pen S7 Pro and A7 are expanding the company's coverage in the mid-range market [2] Market Reaction - Following the positive financial results and strategic developments, NetEase Youdao's stock price surged by 9.91% to $9.76 per share, with a total market capitalization of $1.167 billion [2]

8月14 日，网易有道公布2025年第二季度未经审计的财务报告。报告期内，网易有道净收入14.2亿元， 同比增长7.2%；经营利润为2880万元，首次实现二季度盈利。上半年网易有道经营利润达1.3亿元，创 历史新高；净收入总计27亿元，经营性现金流出同比大幅收窄49.9%。 此外，有道加强与网易游戏和其他游戏广告商合作，驱动游戏广告收入同比上涨50%以上；硬件方面有 道词典笔连续6年蝉联电商平台销量冠军。 二季度，网易有道持续通过AI来建构核心业务的长期竞争力。学习服务作为有道AI技术落地的重要试 验田，二季度净收入达6.6亿，同比增长2.2%。其中，数字内容服务净收入4.5亿元。有道领世净收入同 比增长约30%。 本文源自：金融界 其中，学习服务作为有道AI技术落地的重要试验田，二季度净收入达6.6亿，同比增长2.2%。其中，数 字内容服务净收入4.5亿元。有道领世净收入同比增长约30%。AI作文批改、AI高考志愿填报等功能进 一步带动用户留存率提升至75%以上，突破历史峰值。AI订阅服务二季度，销售额近8000万元，同比增 长约30%实现强劲增长。在线营销服务板块创下6.3亿元收入新高，同比增长23.8% ...

8月14日，网易有道(DAO.US)公布2025年第二季度未经审计的财务报告。报告期内，在"AI原生"战略 下，有道持续推动AI技术升级与落地，在教育和广告领域商业化成果显著，推动其实现连续第四个季 度的可持续盈利。 财报显示，有道Q2净收入达14.2亿元，同比增长7.2%;经营利润为2880万元，首次实现二季度盈利。 自2023年7月推出"子曰"以来，有道坚持探索大模型在教育行业的应用价值。据悉，"子曰3"数学模型的 服务成本每百万token低至0.15美元，远低于目前大多数通用大模型。这意味着更广泛的教育机构和开发 者都能以低成本部署专业级的数学AI应用。 连续四个季度盈利的业绩表现充分验证了有道在垂直领域的商业化路径已初见成效。当行业仍困于大模 型投入与产出的失衡时，有道已迈向从技术领先到商业可持续的关键一步。随着AI技术和应用持续深 化，其战略先发优势或将拉开更大身位 。 今年上半年，网易有道经营利润达1.3亿元，创下历史新高;净收入总计27亿元，经营性现金流出同比大 幅收窄49.9%。 聚焦高价值场景，AI赋能持续释放业绩弹性 二季度，网易有道持续通过AI来建构核心业务的长期竞争力。 学习服务作为有 ...