Summary by Futu AI
NetEasy announced unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023 on February 29, 2024. The report showed that net profit for the fourth quarter was RMB66 billion and net profit was RMB74 billion under non-recognized accounting criteria. Net income was RMB271 billion, up 7.0% year-on-year. Game and related value-added services net revenue was RMB209 billion, up 9.6% year-on-year. There was a net income of RMB15 billion, up 1.8% year-on-year. Cloud Music net revenue was RMB20 billion, down 16.4% year-on-year. Net income from innovation and other business was RMB28 billion, up 12.9% year-on-year. Gross profit was RMB168 billion, up 27.0% year-on-year. Operating expenses totaled RMB100 billion, up 13.0% year-over-year. In addition, the company announced a fourth quarter dividend of $0.21597 per share. NetEasy CEO Ding Lei said 2023 will be a breakthrough year for NetEasy Games, and stressed that the company will continue to provide innovative, high-quality products and services to enhance its global impact.