NTES 4Q25 Results: Longer Deferred Rev Recognition Could Adversely Impact Gaming Rev Growth
What’s new: NetEase’s reported 4Q25 results that were below consensus estimates and our expectations partly due to gaming. While performance of new and legacy game titles remains resilient, rev growth could continue to be adversely impacted by longer deferred rev recognition policy. We maintain our PT at USD150.Analysts:
Jin Yoon
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.