Thank you, call. Margaret, and for today's thank you, in everyone, participating
the X% to all off drove remind to that from in that XXXX net game performance like percentages impressive We total based an our would I our billion everyone first begin, year-over-year. we revenues with on are up Before RMB. kicked quarter, RMBXX portfolios
increased to NetEase XX% billion. to Our year-over-year net income RMBX.X shareholders attributable
spring Chinese packs, in variety once and series thanks and engaging expansion our a Westward particularly performance, to new the audiences continues the captivate enjoyed period. of Fantasy to grew steadily activities festival immersive Revenue Online flagship quarter another impressive during quarter. This franchise of first from titles Journey again passive
in-game have and now, Our iterations for users to release with content. two we games user our connections incredibly remained popular months users almost sustained continuous keep few and engaged decades flagship the to due every
newer results. impressive Our also are titles showing
became Party leading and the operational engaged arena. casual addition to is and further a through in first players game quarter, crossover Eggy China's events. and content exciting on new Eggy most NetEase tournaments its content iOS position consistent Party's the keep gameplay game solidifying know-how in accomplishment downloaded features, the of fresh testament updates, that innovation
Eggy distinct its upgrading we've Party's Following launch, successful significant including and additives. game game our creative ecosystem, been incentive to solidify schemes steps taking
Our users generative can We've now more mini people and design tool game for more as engaging self-sustaining. in more a to new in games more and will develop these of and we this with create creative offer flexibility the game making features technology process. easily, great and more encourage users our to sophisticated to more content versatility, seen participate editor
players our with year been Eggy anniversary than X weekend. and providing per apps creating content. Party our ecosystem, million more community continued approaching its UGC comprehensive has first is With week, user fresh enjoyable this
Party Eggy for focus our the ensure in games. many Party help that will be see our of of operational offerings Eggy to strengthening a key As further our longevity strategy, we UGC we other
soft-launched the valuable we Following Eggy stage global well. and we received testing Party potential its in China, Asia on in success feedback. its Southeast are as already We've
and the engaging to audiences worldwide gameplay will working are bring unique the that global future that in to We Eggy believe Party experience to enjoy UGC Eggy has and near offer. players Party
Japanese In Bungo asymmetrical revenues, the V, record-high Identity anime Identity a with driven a Crossover Battle game. example series. showing Another games casual our net successful Arena by famous V our campaign good old of quarter, is first longevity five-year Stray achieved Dogs,
to Moving our game pipeline. on
We busy mobile such Badlanders XXth planned Chinese mainland successful many launch this June for the and market. ahead the as other for Justice and have a with very game on titles Racing summer year Master ready
Harry market Magic planning debut. Awakened make Potter: also its international to are for We
cosmetic As Justice creating set that balanced to a bar wide the preferences offering also a sense Differentiating ground, to fostering ensuring fair of mobile a market. of dedicated provides game the more mobile itself players game traditional will MMORPG, generations, is equality younger playing game unique of variety our experience. next-generation experience items. from a Justice with game MMOs, and MMO for The new a game a caters
in development the process technology enrich the first gameplay, apply games new us and pioneers maps. Justice including game, have to development. of and further experience mobile in the and storyline technologies world to Justice enabled open is creation machine-learning Such mobile game one our enhanced greatly
In the experiences of that addition, users' that game that to ways impacts innovations interact add gaming more computer-driven through non-player mobile players have enjoyment allow chat provides game. game and like with players characters unique in personalized to them Justice storyline,
Badlanders, our close scheduled is for with Badlanders users. our round on XX pre-registered June recent Xth mobile the had next-generation shooting launch In testing, strong shown looter million attraction. game, to player
and exciting shooting hopeful games, we exciting of NetEase's addition that to are will new tap battle with brand-new experience. us Badlanders its an As escape territory into help roster mechanism
million which new be June over XXth, Racing racing Next bringing Master, that had users. in Racing car will game also is to has the XX Master pre-registered players The pipeline on we fully simulation with that and AAA handling experience for performance cars. car racing the game racing and most to the thrilling dynamic players world boasts of quality themselves in authentic allows a immerse possible a
launch Magic that announce are nearly Potter: the Harry of We global is Awakened here. happy highly-anticipated to
gameplay to thrilling this the authentic has for around that and mobile of hard waited game get both players the wizarding team and world. PC, dedicated the ensuring the been refine experience most long world of enhance working Our and
other Africa handle summer, including Potter: in globe. responsible Oceania. Games Awakened in geographies, market, across This the Bros. be distributed is distribution Magic Asian Americas, primarily for regions Harry Warner NetEase the most will Europe, the while will and
to off addition Potter will this pay Harry worth IP efforts our the that wait. and be the that beloved believe We will
do. We as it much this audience players global as will to game release enjoy are to we and excited that a hope
We continue strategy. globalization to solid progress in our make
the we to pushed by an includes Anchor and dedicated experience surprising record that as of pleased establishment players' Ehreth. games over Anchor such Points boundaries for gameplay action, making design led and and Paul also to and years the adventure to console, impressive unique track Studios Studios of in During With game essential PC the quarter, -- hit Halo. titles contributions and development of has direction announce that entertainment is is experiences. Control which XX were Paul PC Point developing
Bad Canada, Francisco. which family, to franchise, the and producer NetEase this Game experience Studios announced by Driver: game Crooks, an week. game earlier worked a Dogs the excited Brain also welcome is Brain studio, to who are has Sean in led Studios Game new San Watch located we We Bad on
Sean The addition team action on and franchise an experiences, Crooks a Unreal own with is studio such ambitious also other his Engine Army assembled many of built new who Splinter In work Two on adventure story-driven the X. to game franchises, based developing theme Cell. veteran as major franchise
stage international and now studios overseas Europe, have years strategic next games of over Canada Japan, growth. for NetEase proprietary our spanning U.S., the which After planning, prepare us XX of we
soon over fresh, remain be not full We a globally investing and international hope China, game forward, and long-lasting will that games in Moving household franchises. committed just -- development. NetEase gaming associated attracting, to and our creation supporting name but talent, we with will economy also be giving them engaging
Now Youdao. let's move on to
a challenging lines despite growth STEAM and other courses its environment trajectory of due business January key resumed Youdao pandemic. to the in
further and growth STEAM Our show enrich improve courses we continues to content. their as solid
The the at exceptional the Open British which Youth launch Group course Championship fourth Champion the of Youth year we last Go won recent results, as January. of saw Class participants our our in in quarter yielded
language children, Additionally, our the quarter. advanced Youdao year-over-year gross by processing reading by XX% first for nearly service of in Fun capabilities, the online increased billings powered digital natural Reading,
Youdao Fun on for a behavior, experience tailored based reading Reading provides personalized user. reading age each enabling users' and content
continuously are smart improving to our better providing with devices We and experiences. dedicated users
by XXX% complex Chinese and the application product of As XX rate Dictionary an and achieved XX batch tests scenarios. Youdao accuracy Technology, of Academy online Information Communications conducted Pen offline and PX the first pioneer, a our in industry standard in
Dictionary our are with Moreover, provide of operating Pen options. a the available system users diverse continuously applications expanding to range Youdao on
training Our has also Pad help effectively. Smart students world upgraded, more their strategies Learning and plan been learning specialized utilizing technology to offer computer-powered
services. leverage success we ahead, the and learning Looking will smart continue focus technological our on innovation ensure cutting-edge to and devices of our to technology long-term
in quarter high Music music-centric Cloud the and our Music offerings, continued user to business. expand content communities first enrich ongoing a its its efforts XXXX, of thriving to its In unique Turning ecosystem with engagement. resulting Cloud
at around continued while MAUs music our paying membership ratio solid growth, show Our steady online remained to XX%.
while has music revenue dedicated solid to our year-over-year sustainable improve and growth our profitability show music entertainment focus on more adjusted the online of enhanced has as a a declined to we Our social fans listening momentum manner. in continued experience basis,
net In mixed the declined year-over-year results. X% total this RMBX quarter, first to reflecting billion, revenue
has ongoing to time and margins the our been the our continued This first improved through optimization XX% we off drive bottom They expansion. reaching structure performance. strategy. achieved initiatives above margin However, our cost paid gross have copyright line of with reinforcing and for revenue-sharing further
music music, us access to our continue expand help work that and ensure with To offering to we copyrighted labels important our content music grow library.
of for Record, C-Pop agreement Rock licensing we music from rights digital our library stars, our renewed our partnership. Music's deepening with rich B'in strategic Following agreement to
Makoto CoMix with known critically We licensing acclaimed of music the with film Shinkai also an Wave music broadened contract our movies. for addition studio its anime content Films,
an platform. of home XXX,XXX Support Cloud we an of suite March, with Music of increasing to founded foster function our supportive talent to for environment tools. By artists upon independent remains cumulative independent a top artists. continue And new a and the Music registered Cloud was creativity NetEase end
and have valuable talent. a project independent discovering such enhanced for Cloud promoting power referrals of support We and professional and music and traffic Ladder nurturing launched offer assistance artists' with a several resources of including aim to incentives range training, new project the recently We programs, voice artists, music. as independent XXXX
platform, we artists their With Cloud seeing are and value. commercial independent our Music these services offerings, our realizing more leveraging joining
Going further continue forward, Cloud our community grow we ecosystem, for healthy our NetEase will Music. music-centric foster drive to long-term monetization and
deepened products consumer Yanxuan anniversary. users, chain XXth, and Yanxuan in has NetEase its April Committed home top On to supplies further our Yanxuan, on food pet private-label and brand. supply categories particularly quality cleaning. our celebrated Now to as such model, delivering to seventh
to comprehensive Furthermore, we have ensure taken user experience. possible the approach best a
production quality line For independent innovative we partnered vendors our enhance have with capabilities and maintain to established laboratories. consistent product through instance, joint to had help we suppliers and
suitcases cookies, from and include bedding that mattresses. cleaning, furnishing, jelly enjoyable the supplies promote It Top-selling as well mission food, provide year-over-year products Yanxuan during bathroom with fragrance, a home cat quarter, categories coffee quarter to more home including relaxed consumers pet growth significant designed products high-quality and realized and also lifestyle. In sales first the blankets. our remains as original
We ESG to significant our the of of practices like regulatory initiatives would our placed ESG touch we Lastly, and ongoing and upon emphasis development the improvement continued achievements. ESG framework. on our
recognized ESG achieved we been DJSI, and CSA the our Sustainalytics released year. showcases have as such improved. Our widely late Report, accomplishment last ESG has scores our been Annual MSCI, consistently in evaluations, for scores that we asset XXXX with ESG which authoritative leading In April, and
In representation leading of of Directors promote of the with of optimized Board level. have the now, corporate terms average female our right Board diversity international our governance, composition we XX% comprising to
In implementing gas energy-saving measures. We unit our are also and X%. of emission and reducing revenue committed by footprint per we net greenhouse reduction to carbon emissions XXXX, our decreased
also We low-carbon incorporated and concept design. our our construction started own IDC have into
proud Best development World's are one we is for success have fifth talent our as of Employers to recognized and consecutive critical Forbes year. the by for been the Furthermore,
actively also and inclusion, again of average. We proud leading employees, have promote high the a diversity, and to female percentage industry are equity
offering great programs placed development, a employee opportunities development also training We our employees' and that maximizing provide of career wide comprehensive importance employee range growth, to support on potential.
NetEase. continue across Music content lines. and to In to And always This of in we experiences at our diverse driving summary, Youdao, more been growth our of NetEase's a business product has wave Yanxuan. value will will innovation all and be core gaming, driven next bring users force Cloud
while abroad, Our to our and value and company goal stakeholders. our delight domestically for is and elevate both community, creating
financial comments. first provide William's our of quarter concludes review will This XXXX I a brief results. next
earlier limited abbreviated We Given details. you today through time some encourage to issued further presenting press be call, will our the I today's financial release read highlights. on for
billion, were Total from contribution newly-launched revenues the RMBXX due and Eggy revenues Growth up our Journey net games, value-added quarter games, primarily titles to Westward representing first increase year-over-year. our as revenue such X% year-over-year. legacy for games as were a RMBXX.X billion was $X.X or mobile the services such including Total Party. increased series X% and billion, our related from net strong Fantasy
for total Net our revenues XX% online accounted of from approximately from mobile operation. our games net games revenues
net the challenging decrease of Youdao's were pandemic billion, a primary environment was to net RMBX.X reason X%. particularly revenues the the in China, decrease in revenues January. for year-over-year The in due
compared Net billion, year. Cloud RMBX period revenues introduced decline a of Music same X% to first the from last Music In which were quarter, live-streaming represented to its services listening measures the a by fans lower of music and reducing number broadcasters exposure to dedicated revenue-sharing certain in-app reinforced ratio experience streaming to controls live enhance function agencies. the of more the risk and Cloud and
improvement innovative its contribution billion, but led decrease Music's for up nearly These revenues Yanxuan. businesses from year-over-year to RMBX.X mainly were Net services, due entertainment and to XX% Cloud a net in profile. margin increased revenues measures others from in social
gross XX.X% first quarter of year. total in last was compared the profit margin in Our first the XX.X% quarter with
same organic first the termination of revenue Looking and growth primarily profit services XX.X% channels. compared related more our certain margin licensed our value-added our by in lower last comparatively with period segment, well margin from in games at The of for more gross year. was as as quarter driven contribution games XX.X% was with details, margin gross
profit Our margin quarter, period revenues. for from for compared first XX.X% ago. was with a from of improvement versus well resulted to as mainly reduction in year-over-year the our control year year. Music last improvement The Cloud XX.X% decline optimized in measures. as the the continued GP same XX.X% the in Gross resulted net Youdao XX.X% revenue-sharing margin improve in mainly to period climbing same strategy cost in Margin continuous
from was result innovative XX.X% was increase the GP of line due The to Our last revenues with XX.X% businesses and Yanxuan. compared year. margin others mainly increased
net operating at were the billion Taking composition. revenues. for closer expenses quarter total Total a first or look XX% expense RMBX.X of our our
remained Our percentage in selling as a and of XX.X% stable the total year-over-year. relatively marketing revenues and expenses were quarter net first
R&D Our total remained at percentage revenues quarter. the expenses XX% net as stable also in first a of year-over-year
technology-driven product content our development As and investing commitment ongoing. innovative an and content to creation is in company,
our We are the R&D also in investments term. in seeing leverage longer
the Other during the up publicly-traded mark-to-market for income investment first is appreciation and the of certain quarter, due was value in RMBX.X billion securities quarter-over-quarter quarter. which mainly our portfolio year-over-year to first
changes required accounting applicable in reflect P&L. per we As to fair our value standards, are these
The was effective the tax XX.X% for rate quarter. first
reminder, tax accrual depending different results. a each and from credit operational our As entities effective at periods our the applicable an and rate basis the time of is policies presented on deferred tax on
shareholders or earnings billion Our first per quarter $X.X income RMBX.X for totaled attributable ADS non-GAAP net share. our per basic or $X.XX for was to the quarter billion. $X.XX Non-GAAP the to
with approximately a Board we our are our as have In very Additionally, ADS. report of accordance position same or cash which pleased year. the billion dividend our $X.XXX XXXX, net end the with of end to Directors per $X.XXX remains of as of share that per is approximately strong approved dividend cash level that at RMBXX.X March last of policy,
in Lastly, ADS program of as a share under our the first billion approximately repurchase of X.X mid-January this has million. been million current cost $X repurchased quarter year, $XXX approximately end total for starting
go to call would like the let's your Operator, questions. you Thank We attention. now the to to your open for Q&A.
