NetEase Cloud Music Q1 2026 Revenue Reaches RMB1.98 Billion, Up 6.6% YoY

Bulletin Express

May 21

NetEase Cloud Music Inc. (abbreviated as NetEase Cloud Music) released key first-quarter 2026 figures after its parent company, NetEase Inc., published unaudited U.S.-GAAP results on 21 May 2026. All amounts below are extracted directly from the disclosure.

Net revenues climbed to RMB1.98 billion (USD287.22 million), an increase of 6.6% versus the first quarter of 2025 and broadly flat compared with the preceding quarter’s RMB1.97 billion.

Cost of revenues stood at RMB1.25 billion, narrowing from RMB1.29 billion in the prior quarter but higher than the RMB1.18 billion recorded a year earlier.

Gross profit improved to RMB0.73 billion, up 7.6% year-on-year and 7.6% quarter-on-quarter. Based on disclosed figures, quarterly gross margin edged up to approximately 37.0%.

Management highlighted that the numbers are prepared under U.S. GAAP, differ from the company’s IFRS reporting framework, and remain unaudited. Investors are advised to interpret the data accordingly. NetEase Cloud Music will publish its own IFRS-compliant financial statements in due course.

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(abbreviated as NetEase Cloud Music) released key first-quarter 2026 figures after its parent company, NetEase Inc., published unaudited U.S.-GAAP results on 21 May 2026. All amounts below are extracted directly from the disclosure.</p>\n<p>Net revenues climbed to RMB1.98 billion (USD287.22 million), an increase of 6.6% versus the first quarter of 2025 and broadly flat compared with the preceding quarter’s RMB1.97 billion.</p>\n<p>Cost of revenues stood at RMB1.25 billion, narrowing from RMB1.29 billion in the prior quarter but higher than the RMB1.18 billion recorded a year earlier.</p>\n<p>Gross profit improved to RMB0.73 billion, up 7.6% year-on-year and 7.6% quarter-on-quarter. Based on disclosed figures, quarterly gross margin edged up to approximately 37.0%.</p>\n<p>Management highlighted that the numbers are prepared under U.S. GAAP, differ from the company’s IFRS reporting framework, and remain unaudited. Investors are advised to interpret the data accordingly. 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