NetEase (NASDAQ: NTES) — Q2 2026 Pre Earnings

Pre earnings note company quarterly analysis

Operations

As of August 19, 2026
Total Revenue RMB 30.59B
Games and related value-added services 84.1%
Youdao 4.4%
NetEase Cloud Music 6.5%
Innovative businesses and others 5.1%

Key Driver: Self-Developed Game Revenue

Can self-developed game revenue sustain games and related value-added services growth? NetEase’s Q1 games and related value-added services revenue rose 6.9% year over year to RMB25.7 billion, with growth attributed to self-developed games including the Fantasy Westward Journey franchise and Where Winds Meet.

Operations Tracker

As of August 19, 2026

OPERATION

STATUS

Games and related value-added services

🟢 Scaling

Global game expansion

🟢 Expanding

NetEase Cloud Music

🟢 Scaling

Youdao

🟢 Scaling

Sources: Games and related value-added services revenue, global game expansion, NetEase Cloud Music, Youdao

Disclosure: All content and tracker data are provided for informational and journalistic purposes only and are derived from public company filings, earnings transcripts and official releases. This content does not constitute financial analysis, investment advice, or a recommendation to buy or sell securities.