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Edge
Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
NetEase
NetEase (9999) investor relations material
NetEase Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary21 May, 2026
Executive summary
Q1 2026 net revenues reached RMB30.6 billion (US$4.4 billion), up 6.1% year-over-year and 11.1% sequentially, driven by strong games business and global expansion.
Net income attributable to shareholders was RMB10.7 billion (US$1.5 billion), up from RMB10.3 billion a year ago; non-GAAP net income was RMB11.3 billion (US$1.6 billion), stable year-over-year.
Major titles like Where Winds Meet, Marvel Rivals, and Fantasy Westward Journey achieved record engagement and revenue, with international expansion and stable Blizzard operations in China.
CEO emphasized ongoing innovation, international growth, and focus on technological capabilities.
Operating profit margin improved to 41.4%, reflecting enhanced profitability.
Financial highlights
Total net revenue: RMB30.6 billion (US$4.4 billion), up 6.1% YoY; games and related VAS: RMB25.7 billion (US$3.7 billion), up 6.9% YoY.
Gross profit was RMB21.2 billion (US$3.1 billion), up 14.8% YoY; gross margin improved to 69.4% from 64.1% YoY.
NetEase Cloud Music net revenue: RMB2.0 billion (US$287.2 million), up 6.6% YoY.
Youdao net revenue: RMB1.3 billion (US$195.4 million), up 3.8% YoY, but down sequentially.
Innovative businesses and others: RMB1.5 billion (US$224.6 million), down 4.6% YoY and 24% QoQ, mainly due to e-commerce and advertising declines.
Outlook and guidance
Focus on innovation, differentiated gameplay, and strengthening technological capabilities to compete globally.
Continued investment in global expansion, localization, and cross-device compatibility for flagship titles.
Sea of Elements and Ananta are on track for launch, with Sea of Elements targeting Q3 and positive user feedback.
Impact of lower platform revenue-sharing costs
Global reach of Where Winds Meet and Marvel Rivals
Status of Blizzard titles and localized content
Ananta urban open world differentiation strategy
Impact of lower platform revenue sharing costs
Blizzard titles retention and China performance
Partial view of Summaries dataset, powered by Quartr API
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Latest events from NetEase
- 2025 revenue rose 10% to RMB 112.6B, with strong game growth, AI integration, and record net cash.9999
Q4 20257 Aug 2026 - Q3 2025 revenue rose 8.2% year-over-year, led by global game launches and strong net income.9999Q3 20259 Jul 2026
- Q1 2025 revenue grew 7.4% and profit surged, led by hit games and ongoing share repurchases.9999Q1 20259 Jul 2026
- Q2 2024 revenue up 6.1% to RMB 25.5B, with strong profit and new game launches.9999Q2 20248 Jul 2026
- Q3 2024 revenue fell 3.9% year-over-year, but new games and relaunches drove user growth.9999Q3 20248 Jul 2026
- Q4 net income up 33% YoY; record full-year revenue, strong cash, and global game growth.9999Q4 20248 Jan 2026
- Q2 2025 saw 9.4% revenue growth and strong profit, led by new games and global expansion.9999Q2 202523 Nov 2025
Next NetEase earnings date
Q2 202620 Aug, 2026
NetEase
Next NetEase earnings date
Q2 202620 Aug, 2026
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