NetEase (09999) releases Q3 financial report: net income of 27.3 billion yuan, research and development expenditure of 4.3 billion yuan.

On November 16th, NetEase (09999) released its third-quarter financial report for 2023. The Q3 net income was 27.3 billion yuan, meeting market expectations and an increase from 24.4 billion yuan in the same period last year. Under non-generally accepted accounting principles, the net profit attributable to the company's shareholders from continuing operations was 8.6 billion yuan. The R&D investment for the quarter was 4.3 billion yuan, with an R&D intensity of 16%, higher than the industry average. In the first three quarters of this year, NetEase's cumulative R&D investment has exceeded 12 billion yuan, and efforts to promote the mass application of technologies such as self-developed AI models in education, entertainment, and industrial fields continue to accelerate.