NTES-S (09999.HK) +2.400 (+1.552%) Short selling $156.00M; Ratio 14.704% will announce its 1Q24 results next Thursday (23 May) at around 6 pm, which are expected to be boosted by revenues from new games in 2H23, including "Justice Mobile" and "Allstar Streetball Party".
Investors will be watching NetEase management's latest guidance on its online game business, including the progress of finalising the release schedule for "Naraka Bladepoint Mobile" and the PC version of "Where Winds Meet". NetEase will hold its annual release event on 20 May, which will keep the market focused on the progress of the relevant new games.
——————————————————
According to the forecasts by 7 brokers as summarised by our reporters, NetEase's 1Q24 non-GAAP net profit is expected to range from RMB6.957 billion to RMB8.812 billion, a YoY decline of 8% to an increase of 16.5% compared to RMB7.566 billion in 1Q23. The median net profit was RMB8.325 billion, representing a 10% YoY rise.
Broker│1Q24 Non-GAAP Net Profit Forecast (RMB)│YoY Change
JPMorgan│RMB8.812 billion│+16.5%
Morgan Stanley│RMB8.582 billion│+13.4%
Nomura│RMB8.394 billion│+10.9%
Goldman Sachs│RMB8.325 billion│+10%
CICC│About RMB8.2 billion│+8.4%
CLSA│RMB8.144 billion│+7.6%
Citi│RMB6.957 billion│-8%
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-14 16:25.)
