2024-05-23 15:56Financial Performance - NetEase reported total net revenues of RMB 26,852 million (approximately $3,719 million), a 7.2% increase year-over-year[38] - Games and related value-added services contributed RMB 21,460 million (approximately $2,972 million) to net revenues, up 6.9% year-over-year[38] - Net income attributable to the company's shareholders was RMB 7,634 million (approximately $1,057 million), a 13% increase year-over-year[38] - The company's balance sheet shows cash and cash equivalents of RMB 43,027 million (approximately $5,959 million) as of March 31, 2024[36] Business Segments - Youdao's net revenues increased by 19.7% year-over-year to RMB 1,392 million (approximately $193 million)[38] - Cloud Music's net revenues increased by 3.6% year-over-year to RMB 2,030 million (approximately $281 million)[38] - Innovative businesses and others' net revenues increased by 6.1% year-over-year to RMB 1,970 million (approximately $273 million)[38] Games Highlights - Fantasy Westward Journey mobile achieved another record-high quarterly revenue, nine years after its launch[18] - Identity V achieved a strong performance in the first quarter with continued momentum during its sixth anniversary celebration event with record-high DAUs in May[19] Shareholder Returns - The company declared a dividend per ADS of $0.49500 for Q1 2024[31] - Share buybacks amounted to $167 million in Q1 2024[31]