NetEase Inc ADR

NTES: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	NXZ	LOCK\|LGqP	LOCK\|&R$XhX

NetEase Earnings: Stable Pipeline, Strong Evergreen Titles; Shares Undervalued

Ivan Su

Nov 21, 2025

NetEase delivered a solid third quarter, with revenue rising 8% year over year and operating profit increasing 12%. Deferred revenue, often a leading indicator of revenue growth, grew 27%, consistent with last quarter, pointing to a stable near-term outlook.

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NetEase Inc ADR

NetEase Earnings: Stable Pipeline, Strong Evergreen Titles; Shares Undervalued

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