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Original title: NetEase’s Third Quarter Financial Report: NetEase Youdao Performed Brilliant, Up 159% Year-on-Year
[CNMO News]On November 19, NetEase released its financial report for the third quarter of 2020. Of these, NetEase Youdao’s business growth rate was the most impressive. Its third quarter net profit was 896 million yuan, up 159.0% year-on-year. .
NetEase third quarter financial report
NetEase’s third quarter 2020 financial report shows NetEase’s third quarter net profit was 18.7 billion yuan, up 27.5% year-on-year. Among them, the net profit of online gaming services reached 13.9 billion yuan, an increase of 20.2% year on year; NetEase Youdao’s net profit was 896 million yuan, an increase of 159.0% year on year; net income from innovative and other activities was 3.9 billion yuan, up 41.6 year-on-year. %. Netease’s gross profit in the third quarter of 2020 was 9.9 billion yuan, up 25.6% year-on-year.
NetEase Games
Netease said that thanks to strong growth in online gaming services, the company’s revenue trend in the third quarter was very impressive: online gaming services achieved net income of over 10 billion for ten consecutive quarters. Netease Games’ increasingly rich and diverse array of gaming products gives it lasting vitality and also creates its strong profitability.
Due to the impact of the outbreak earlier this year, online education services have developed tremendously. NetEase Youdao’s business experienced the fastest growth rate since its listing in the third quarter, up 159.0% year-on-year.
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