Netease - NTES STOCK NEWS

NetEase, a major player in China's internet and online game services, has acquired Quantic Dream, a renowned independent video game developer known for titles like Heavy Rain and Detroit: Become Human. The acquisition empowers NetEase to expand its European presence and enhances Quantic Dream's creative potential by leveraging NetEase's resources. Quantic Dream will maintain its operational independence while continuing to develop innovative games, including Star Wars Eclipse. This strategic move is expected to redefine the interactive entertainment landscape.

Cloud Music Inc. reported its financial results for the first half of 2022, showcasing a revenue increase of 33.8% to RMB 4.3 billion compared to RMB 3.2 billion in 2021. The gross profit improved to RMB 537.1 million, marking a significant recovery from a gross loss of RMB 12.9 million last year. The net loss narrowed by 92.9% to RMB 270.8 million. Monthly paying users in online music services rose sharply to 37.6 million, indicating growth in subscription revenue. The company continues to enhance its community ecosystem and monetization efforts despite industry challenges.

NetEase reported its Q2 2022 financial results, revealing net revenues of RMB23.2 billion (US$3.5 billion), up 12.8% year-over-year. The games sector led with revenues of RMB18.1 billion (US$2.7 billion), a 15.0% increase. Cloud Music saw a 29.5% rise in revenues, totaling RMB2.2 billion (US$327.2 million), whereas Youdao revenues dropped 26.1% to RMB956.2 million (US$142.8 million). Gross profit rose to RMB12.9 billion, reflecting a 15.7% increase. The company also announced a quarterly dividend of US$0.0720 per share.

Cloud Music Inc. (HKEX: 9899), a leading music streaming service in China, will release its financial results for the first half of 2022 on August 18, 2022, after the Hong Kong market closes. An earnings conference call will be held at 7:00 p.m. Beijing/Hong Kong Time on the same day. The call will be accessible via a registration link, and an archived webcast will be available on its investor relations site. Cloud Music, launched in 2013 by NetEase, Inc. (NASDAQ: NTES), remains popular among Generation Z for its personalized recommendations and focus on emerging musicians.

NetEase, Inc. (NASDAQ: NTES), a top internet service provider in China, will report its 2022 second quarter financial results on August 18, 2022, before U.S. market hours. A teleconference call with live webcast is scheduled for 8:00 a.m. ET that day, featuring management discussing the quarterly performance and addressing questions. Interested participants can join via phone and access a replay until August 31, 2022. NetEase continues to expand in gaming and other digital services, partnering with global developers to enhance its offerings.

NetEase, Inc. launched Diablo Immortal in China on July 25, 2022, for iOS and Android platforms. This highly anticipated action role-playing game, co-developed with Blizzard Entertainment, achieved significant global success, topping app download charts upon its initial release on June 2. NetEase, recognized for its premium mobile and PC games, showcased its technological prowess with the game leveraging its Messiah 3D engine for high-quality visuals. The company continues to expand its presence in both domestic and international markets, partnering with leading developers to deliver exceptional gaming experiences.

Cloud Village Inc. (HKEX: 9899), known as NetEase Cloud Music, has signed a licensing agreement with YG Entertainment Inc. to distribute its music catalog in China. This includes popular K-Pop groups like BIGBANG and BLACKPINK. The collaboration aims to enhance offerings on NetEase Cloud Music, appealing to China's younger audience. The company has previously partnered with other key labels, indicating a strong strategy to broaden its music portfolio. This agreement reinforces NetEase's commitment to providing quality music content and fostering artist-fan connections.

NetEase Games has launched a new AAA studio named Jar of Sparks, based in Seattle. The studio, headed by industry veteran Jerry Hook, aims to create innovative narrative-driven action games. It includes a team of seasoned creators from franchises such as Halo and Batman: Arkham. The studio's mission focuses on building immersive worlds and new franchises while prioritizing a collaborative team culture. The initiative aligns with NetEase's commitment to supporting global game development and creativity in the gaming industry.

NetEase (NASDAQ: NTES) has announced a partnership with the French Football Federation and the Argentine Football Association to provide exclusive online media content for the 2022 World Cup in China. NetEase Media will offer unique interactive content, including video chats with players and documentaries featuring famous athletes like Lionel Messi. This marks the third consecutive World Cup collaboration for NetEase, which previously attracted over 1.5 billion page views during the 2018 tournament. NetEase continues to strengthen its position in sports media by leveraging its extensive online platforms.