网易云音乐2024年业绩公告点评:聚焦产品优化&用户体验,盈利能力显著改善

光大证券
25 Feb

要点事件:公司发布24年业绩公告,实现营收79.5亿元人民币,同比提升1.1%,收入增长平缓主要系社交娱乐业务持续收缩。24年公司盈利能力显著改善:实现毛利润26.82亿元,同比提升27.5%,对应毛利率由23年的26.7%提升至33.7%,主要系会员规模扩大所带来的规模效益、核心在线音乐业务的强劲变现水平以及持续的成本优化措施,若干内容授权费的一次性调整使得毛利率增加约1.3pct;公司实现经...

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