NetEase Cloud Music reported first-half 2026 revenue of RMB4.0 billion, up 3.4% from RMB3.8 billion a year earlier, while net profit fell to RMB809.2 million from RMB1,882.1 million. The profit decline was primarily due to a deferred tax credit of RMB849.4 million recognized in the first half of 2025 that did not recur. Adjusted net profit was RMB859.7 million, down from RMB1,946.4 million, and adjusted operating profit was RMB796.7 million versus RMB905.4 million. Gross margin improved to 37.2% from 36.4%, and the company said its daily active user to monthly active user ratio remained above 30%.
NETEASE CLOUD MUSIC INCFirst-half net profit fell sharply due to a non-recurring deferred tax credit, though revenue grew slightly.
NetEase Inc