Stock Track | NetEase Plunges 5.92% in Pre-market on Tech Sector Concerns and Revenue Decline

Stock Track

02-20

NetEase Inc. (NTES) stock suffered a 5.92% pre-market plunge on Thursday, following broader declines in Chinese tech ADRs. The drop was driven by concerns over the tech bull run being overstretched and caution from Federal Reserve officials regarding future interest rate cuts.

NetEase's pre-market slump also came after the company reported its Q4 2024 earnings results, with revenue declining 1.4% year-over-year to 26.75 billion yuan, despite a 33% increase in net profit. The revenue drop, attributed to weaker performance from its music subsidiary and education-technology unit Youdao, may have weighed on investor sentiment.

While NetEase's online gaming business showed signs of recovery, with the launch of new titles like "Where Winds Meet" and "Marvel Rivals" boosting mobile game revenue, concerns over broader economic challenges and the need for policy stimulus in China remained a headwind for the tech sector.

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(NTES) stock suffered a 5.92% pre-market plunge on Thursday, following broader declines in Chinese tech ADRs. The drop was driven by concerns over the tech bull run being overstretched and caution from Federal Reserve officials regarding future interest rate cuts.</p>\n<p>NetEase's pre-market slump also came after the company reported its Q4 2024 earnings results, with revenue declining 1.4% year-over-year to 26.75 billion yuan, despite a 33% increase in net profit. 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