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NetEase Cloud Music
NetEase Cloud Music (9899) investor relations material
NetEase Cloud Music Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary21 May, 2026
Executive summary
Net revenues for the first quarter of 2026 reached RMB2.0 billion (US$287.2 million), up 6.6% year-over-year from the same quarter in 2025.
Gross profit for the quarter was RMB734.2 million (US$106.4 million), showing sequential and year-over-year improvement.
Financial highlights
Net revenues increased to RMB1,981 million in Q1 2026 from RMB1,858 million in Q1 2025 and RMB1,968 million in Q4 2025.
Cost of revenues for Q1 2026 was RMB1,247 million, down from RMB1,286 million in Q4 2025 but up from RMB1,176 million in Q1 2025.
Gross profit rose to RMB734 million in Q1 2026 from RMB682 million in Q1 2025 and RMB682 million in Q4 2025.
Segment performance
The music segment delivered steady revenue growth and improved gross profit margins compared to both the previous quarter and the same quarter last year.
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Latest events from NetEase Cloud Music
- Q1 2025 net revenues dropped 8.4% year-over-year to RMB1.9 billion, with gross profit at RMB682.6 million.9899
Q1 20257 May 2026 - Net profit surged 175.7% year-over-year on strong online music growth and improved margins.9899Q2 20247 May 2026
- Q1 2024 net revenues rose 3.6% year-over-year, with gross margin surging to 38.0%.9899Q1 20247 May 2026
- Net profit more than doubled year-over-year despite a 6% revenue decline, led by tax credits and cost control.9899Q2 20257 May 2026
- Net profit more than doubled on robust music subscription growth and higher gross margin.9899Q4 20247 May 2026
- Q3 2024 net revenues rose 1.3% year-over-year, with gross margin up to 32.8%.9899Q3 20247 May 2026
- Net profit jumped 75.4% to RMB2,745.8 million despite a 2.4% revenue decline year-over-year.9899Q4 20257 May 2026
- Q3 2025 net revenues were RMB2.0 billion, with gross profit at RMB694.8 million.9899Q3 20257 May 2026
Next NetEase Cloud Music earnings date
Q2 202614 Aug, 2026
NetEase Cloud Music
Next NetEase Cloud Music earnings date
Q2 202614 Aug, 2026
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