NetEase, Inc. (NASDAQ:NTES) Q1 2024 Earnings Conference Call May 23, 2024 7:00 AM ET
Company Participants
Brandi Piacente - President, Piacente Financial Communications
Bill Pang - VP, Corporate Development
Conference Call Participants
Felix Liu - UBS
Lei Zhang - Bank of America Securities
Lincoln Kong - Goldman Sachs
Ritchie Sun - HSBC
Xueqing Zhang - CICC
Thomas Chong - Jefferies
Jialong Shi - Nomura
Alex Poon - Morgan Stanley
Daniel Chen - JPMorgan
Operator
Good day, and welcome to the NetEase 2024 First Quarter Earnings Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Brandi Piacente, President of Piacente Financial Communications. Please go ahead, ma'am.
Brandi Piacente
Thank you, operator. Please note the discussion today will contain forward-looking statements relating to the future performance of the company and are intended to qualify for the Safe Harbor from liability as established by the U.S. Private Securities Litigation Reform Act. Such statements are not guarantees of future performance and are subject to certain risks and uncertainties, assumptions, and other factors. Some of these risks are beyond the company's control and could cause actual results to differ materially from those mentioned in today's press release and in this discussion.
A general discussion of the risk factors that could affect NetEase's business and financial results is included in certain filings of the company with the Securities and Exchange Commission, including its Annual Report on Form 20-F and the announcements and filings on the website of the Hong Kong Stock Exchange. The company does not undertake any obligation to update its forward-looking information except as required by law.
During today's call, management will also discuss certain non-GAAP financial measures for comparison purposes only. For a definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results, please see the 2024 first quarter earnings news release issued earlier today. As a reminder, this conference is being recorded. In addition, an investor presentation and a webcast replay of this conference call will be available on the NetEase corporate website at ir.netease.com.
Joining us today on the call from NetEase’s senior management team are Mr. William Ding, Chief Executive Officer; and Mr. Bill Pang, Vice President of Corporate Development.
I will now turn the call over to Bill, who will read the prepared remark on behalf of William.
Bill Pang
Thank you, Brandy, and thank you, everyone, for participating in today's call. Before we begin, I would like to remind everyone that all percentages are based on RMB. 2024 is off to a solid start as we continue growing our NetEase family of businesses. Our net revenue for the first quarter of 2024 rose to RMB26.9 billion accelerating year-over-year, led by our outstanding and increasingly diversified game portfolio, which we're actively extending to players around the world.