NTES 1Q24 Results: Part of Gaming Rev Growth Could Be Pushed out to 2H24 and FY25
What’s new: NetEase’s reported 1Q24 revs that were largely in-line with consensus but below our expectations. Part of the gaming rev growth could be pushed out to 2H24 and FY25 due to launch delays of key titles and adjustments in FWJ that may impact PC rev growth in the near-term. We maintain our PT at USD100.Analysts:
Jin Yoon
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