Nomura Expects NetEase, Inc. 1Q Results to Slightly Beat; Rating Buy
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Nomura anticipates that NetEase, Inc. (NTES) will report a 4% year-over-year increase in 1Q revenue to RMB30 billion, slightly exceeding market expectations. The non-GAAP EPADS is expected to decline by 7% YoY to RMB16.27, but still surpassing forecasts. Gross margin is projected to rise to 65%. NetEase plans to convert its Hong Kong listing from secondary to primary, potentially enhancing its stock's appeal. Nomura maintains a Buy rating with a target price of USD155.
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