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Did NetEase Beat Earnings?
NetEase (NTES) reported Q4 '25 revenue of $27.5B, up 3.0% year-over-year, with reported EPS of $10.95. That came in 22.5% below the $14.12 analyst estimate — an earnings miss.
AltIndex tracks earnings alongside 25+ alternative data signals that can move ahead of the report — NetEase’s job postings, web traffic, and employee business outlook. See the full NTES stock analysis or the earnings calendar for upcoming reports.
NTES Earnings Surprise History (EPS vs. Estimate)
| Quarter | Estimated EPS | Reported EPS | Surprise |
|---|---|---|---|
| Q4 '25 | $14.12 | $10.95 | Missed -22.5% |
| Q3 '25 | $14.85 | $14.73 | Missed -0.8% |
| Q2 '25 | $15.06 | $14.81 | Missed -1.7% |
| Q1 '25 | $13.86 | $17.51 | Beat +26.3% |
| Q4 '24 | $12.56 | $15.09 | Beat +20.1% |
| Q3 '24 | $12.36 | $11.63 | Missed -5.9% |
NetEase Quarterly Financial Trends
| Metric | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25.5B | 26.2B | 26.7B | 28.8B | 27.9B | 28.4B | 27.5B | 27.5B |
| Gross margin | 62.9% | 62.9% | 60.8% | 64.1% | 64.7% | 64.1% | 64.2% | 64.2% |
| Operating margin | 27.4% | 27.3% | 29.2% | 36.2% | 32.5% | 28.3% | 30.2% | 30.2% |
| Net income | 6.76B | 6.54B | 8.77B | 10.3B | 8.6B | 8.62B | 6.24B | 6.24B |
| Net margin | 26.5% | 24.9% | 32.8% | 35.7% | 30.8% | 30.4% | 22.7% | 22.7% |
| EPS | $12.05 | $11.63 | $15.09 | $17.51 | $14.81 | $14.73 | $10.95 | — |
NetEase Earnings Trend Analysis
Over the eight quarters from Q2 '24 to Q1 '26, NetEase’s quarterly revenue moved from $25.5B to $27.5B. Net margin compressed from 26.5% to 22.7%, against a 64.2% gross margin in the most recent quarter — a read on whether revenue growth is translating into profit. NetEase has beaten Wall Street EPS estimates in 3 of its last 8 reported quarters.
When Is NetEase’s Next Earnings Date?
NetEase reports earnings on a quarterly schedule. Its most recent report covered Q4 '25. For the confirmed upcoming date — and every other company reporting soon — see the NTES earnings calendar.
Frequently Asked Questions: NetEase Earnings
NetEase's next earnings date has not been confirmed yet. See the earnings calendar for all upcoming reports.
NetEase reported Q4 '25 EPS of $10.95 on revenue of $27.5B (+3.0% YoY). NetEase missed estimates, reporting $10.95 vs. the $14.12 estimate.
NetEase reported Q4 '25 revenue of $27.5B, up 3.0% from the same quarter a year earlier.
Signals like job postings, web traffic, and employee sentiment reflect business activity in real time and can move before quarterly results are reported. AltIndex combines them with 25+ others in the NTES AI Score.
