网易有道(DAO)今日盘中大涨5.49%，引起了市场的广泛关注。
消息面上，公司此前发布了强劲的2025年第四季度及全年财报，并获华泰证券重申“买入”评级且上调目标价。财报显示，有道2025年第四季度净收入达15.6亿元人民币，同比增长16.8%，经营利润为6020万元，连续第六个季度实现盈利。更为关键的是，2025年全年公司首次实现经营性现金净流入和经营利润双双为正，财务健康度显著提升。
业绩增长的核心驱动力来自AI战略的深入落地。在线营销服务业务在AI技术赋能下表现突出，第四季度收入同比增长37.2%，其中游戏与AI应用领域的广告收入增长均超50%。同时，AI订阅服务商业化进展迅速，季度销售额首次突破1亿元，同比增长超过80%，有道词典AI同传等产品成为增长引擎。华泰证券基于其强劲的业绩增长势头和现金流改善，将目标价从12.46美元上调至13.56美元，并维持“买入”评级，进一步提振了市场信心。
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