NetEase Inc Ordinary Shares

09999: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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NetEase Earnings: Legacy Titles Roar, Margins Expand, Buybacks Accelerate

Ivan Su

May 22, 2026

Narrow-moat NetEase delivered a strong first quarter and comfortably beat consensus expectations. Operating profit grew 21% year on year on just 6% revenue growth, in a quarter without any major game launch.

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NetEase Inc Ordinary Shares

NetEase Earnings: Legacy Titles Roar, Margins Expand, Buybacks Accelerate

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