Netease, Inc. income statement

In fiscal 2025, Netease, Inc. reported revenue of $15.67bn, up 7.1% on the year before, operating income of $4.99bn (a 31.8% margin) and net income of $4.70bn, or $7.29 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Netease, Inc.: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	0.6	0.8	1.2	1.3	1.6	2.0	3.6	5.8	6.6	7.8	8.6	10.7	13.6	14.4	14.6	14.6	15.7
Cost of revenue	0.1	0.3	0.4	0.4	0.4	0.5	1.5	2.5	4.2	3.6	4.0	5.0	6.3	6.5	5.7	5.5	5.6
Gross profit	0.4	0.5	0.8	0.9	1.1	1.4	2.1	3.3	3.7	4.1	4.6	5.7	7.3	7.9	8.9	9.1	10.1
Research and development	0.0	0.0	0.1	0.1	0.1	0.2	0.3	0.5	0.6	1.1	1.2	1.5	2.2	2.2	2.3	2.4	2.5
Selling and marketing	0.1	0.1	0.1	0.1	0.2	0.3	0.5	0.7	0.8	1.0	0.9	1.6	1.9	2.0	2.0	2.0	2.0
General and administrative	0.0	0.0	0.0	0.0	0.1	0.1	0.2	0.2	0.4	0.5	0.5	0.5	0.7	0.7	0.7	0.6	0.6
Operating income	0.3	0.4	0.5	0.6	0.7	0.8	1.2	1.9	1.9	1.5	2.0	2.1	2.5	2.9	3.9	4.1	5.0
Income before tax	0.3	0.4	0.6	0.7	0.8	0.9	1.3	2.1	2.0	1.7	2.4	2.2	3.3	3.6	4.8	5.0	5.7
Income tax	0.0	0.1	0.1	0.1	0.1	0.1	0.2	0.3	0.3	0.4	0.4	0.4	0.6	0.7	0.7	0.8	0.8
Net income	0.3	0.3	0.5	0.6	0.7	0.8	1.1	1.7	1.6	0.9	3.1	1.7	2.6	3.0	4.2	4.1	4.7
Diluted EPS	$0.42	$0.51	$0.77	$0.88	$1.11	$1.18	$1.62	$2.64	$2.39	$1.43	$4.73	$2.61	$3.88	$4.59	$6.39	$6.39	$7.29
Diluted shares (average)	650m	652m	655m	658m	651m	655m	661m	661m	663m	651m	650m	670m	673m	659m	650m	646m	644m
EBITDA	0.3	0.4	0.6	0.6	0.7	0.8	1.2	2.0	2.0	1.8	2.4	2.6	3.1	3.3	4.3	4.4	5.3

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: NTES vs TTWO NTES vs RBLX GDEV vs NTES

More: Interactive Home Entertainment stocks compared, Communication Services sector, rankings of US companies

Figures from Netease, Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Netease, Inc.