← NetEase, Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $5.5b $8.3b $9.8b $8.5b $11.3b $13.7b $14.0b $14.6b $14.4b $16.1b
Cost of Revenue $2.4b $4.3b $5.6b $4.0b $5.3b $6.4b $6.3b $5.7b $5.4b $5.8b
Gross Profit $3.1b $4.0b $4.1b $4.5b $6.0b $7.4b $7.7b $8.9b $9.0b $10.4b
Operating Expenses $1.3b $2.1b $3.0b $2.6b $3.7b $4.8b $4.8b $5.0b $5.0b $5.2b
Operating Income (Loss) $1.8b $1.9b $1.1b $2.0b $2.2b $2.6b $2.8b $3.9b $4.1b $5.1b
Additional Financial Items
Foreign Currency Transaction Gain (Loss), before Tax $21.1m ($69.0m) ($16.5m) $3.6m ($477.0m) ($77.0m) $227.8m ($18.7m) $35.0m ($111.0m)
Goodwill, Impairment Loss — — — — $0 $0 $0 $0 $0 $0
Income (Loss) from Continuing Operations, Per Basic Share — — — $1 $1 $1 $1 $1 $1 —
Income (Loss) from Continuing Operations, Per Diluted Share — — — $1 $1 $1 $1 $1 $1 —
Income (Loss) from Equity Method Investments ($12.4m) ($1.9m) ($14.3m) $621k — — — — — —
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $2.0b $2.0b $1.3b $2.4b $2.4b $3.3b $3.5b $4.8b $4.9b $5.8b
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — $1.9b $1.9b $2.7b $2.8b $4.1b $4.1b —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — $1.1b — — $90.6m — — —
Investment Income, Net — — ($3.2m) $187.6m $246.8m $462.6m $7.8m $184.0m $48.7m $104.6m
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic — — — $1.9b $1.8b $2.6b $2.9b $4.1b $4.1b —
Net Income (Loss) Attributable to Parent $1.7b — — — — — — — — —
Net Income (Loss) Available to Common Stockholders, Basic — $1.6b $894.8m $3.1b $1.8b $2.6b $2.9b $4.1b $4.1b $4.8b
Net Income (Loss) Attributable to Noncontrolling Interest $27.1m — $11.2m ($11.2m) ($79.6m) ($65.5m) ($72.1m) ($8.9m) $76.0m $147.8m
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest — $19.4m — — — — — — — —
Earnings Per Share, Basic $0.51 $0.50 $0.28 $0.95 $0.56 $0.80 $0.90 $1.29 $1.27 $1.52
Earnings Per Share, Diluted $0.51 $0.50 $0.27 $0.94 $0.55 $0.79 $0.89 $1.27 $1.26 $1.50
Weighted Average Number of Shares Outstanding, Basic 3.3b 3.3b 3.2b 3.2b 3.3b 3.3b 3.3b 3.2b 3.2b 3.2b
Weighted Average Number of Shares Outstanding, Diluted 3.3b 3.3b 3.3b 3.2b 3.3b 3.4b 3.3b 3.3b 3.2b 3.2b
Research and Development Expense $438.9m $671.9m $1.1b $1.2b $1.6b $2.2b $2.2b $2.3b $2.4b $2.5b
General and Administrative Expense $216.9m $373.5m $464.2m $449.6m $516.8m $669.0m $680.8m $690.1m $623.4m $604.6m
Selling and Marketing Expense $645.5m $1.1b $1.4b $893.6m $1.6b $1.9b $1.9b $2.0b $1.9b $2.1b
Other Nonoperating Income (Expense) $54.4m $42.6m $87.2m $63.1m $113.0m $111.5m $122.8m $148.4m $82.5m $155.4m
Cost, Depreciation and Amortization — — — — — — — — $305.7m $391.1m
Marketing and Advertising Expense — — — — — — — $1.5b $1.5b $1.6b
Current Income Tax Expense (Benefit) $2.0b $2.6b $2.5b $2.8b $3.0b $3.7b $4.5b $4.6b $5.1b $7.3b
Income Tax Expense (Benefit) $302.8m $332.3m $358.8m $418.7m $466.2m $647.8m $729.5m $661.9m $748.2m $862.7m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.