NetEase Earnings May Bottom out in 4Q; 2025 Pipeline 'More Interesting' -- Market Talk

Dow Jones

2024-11-15

0454 GMT - NetEase earnings may bottom out in the fourth quarter, Daiwa Capital Markets analysts say in a note. While third-quarter net profit and mobile game revenue missed consensus estimates, higher deferred revenue indicates healthy game cash sales, and PC game revenue growth beat expectations, they say. The analysts note that NetEase's 2025 PC game pipeline now appears more interesting, and that the stock's "risk-reward profile looks more appealing." Daiwa trims its target price for NetEase ADRs to $125 from $128, citing a weak mobile games pipeline. A key downside risk for the company is its lower-than expected new game sales. NetEase ADRs closed at US$84.22. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

November 14, 2024 23:54 ET (04:54 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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While third-quarter net profit and mobile game revenue missed consensus estimates, higher deferred revenue indicates healthy game cash sales, and PC game revenue growth beat expectations, they say. The analysts note that NetEase's 2025 PC game pipeline now appears more interesting, and that the stock's \"risk-reward profile looks more appealing.\" Daiwa trims its target price for NetEase ADRs to $125 from $128, citing a weak mobile games pipeline. A key downside risk for the company is its lower-than expected new game sales. NetEase ADRs closed at US$84.22. 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While third-quarter net profit and mobile game revenue missed consensus estimates, higher deferred revenue indicates healthy game cash sales, and PC game revenue growth beat expectations, they say. The analysts note that NetEase's 2025 PC game pipeline now appears more interesting, and that the stock's \"risk-reward profile looks more appealing.\" Daiwa trims its target price for NetEase ADRs to $125 from $128, citing a weak mobile games pipeline. A key downside risk for the company is its lower-than expected new game sales. NetEase ADRs closed at US$84.22. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"NTES":"网易","09999":"网易-S","K3MD.SI":"NTES ADR US$+"},"translate_title":"网易盈利可能在第四季度触底；2025年管道“更有趣”——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09999":1,"K3MD.SI":0.9,"NTES":1},"content_text":"0454 GMT - NetEase earnings may bottom out in the fourth quarter, Daiwa Capital Markets analysts say in a note. While third-quarter net profit and mobile game revenue missed consensus estimates, higher deferred revenue indicates healthy game cash sales, and PC game revenue growth beat expectations, they say. The analysts note that NetEase's 2025 PC game pipeline now appears more interesting, and that the stock's \"risk-reward profile looks more appealing.\" Daiwa trims its target price for NetEase ADRs to $125 from $128, citing a weak mobile games pipeline. A key downside risk for the company is its lower-than expected new game sales. 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