Nomura expects NetEase's gaming performance to stay muted in fourth quarter
Nomura analysts expect NetEase's gaming results to stay weak in 4Q and cut the ADR target to $155 from $157 while keeping a buy rating.
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what happened
According to Market Talk, Nomura analysts believe NetEase's gaming performance will likely remain subdued in the fourth quarter. They estimate the Chinese videogame maker's third-quarter revenue rose 4% from a year earlier, reflecting soft online gaming and value-added services.
Nomura links the muted outlook to a high comparison base for the PC version of “Fantasy Westward Journey” and the lackluster performance of “Sea of Remnants,” launched in July. The weakness could persist until the highly anticipated “Ananta” launches in January.
Nomura keeps its buy rating on NetEase but lowers its ADR target price to $155.00 from $157.00. The shares last closed 1.7% lower at $122.98.
why it matters
For investors the signal is modest: a slow start to the quarter and a delayed flagship launch could weigh on revenue expectations. The lower target with an unchanged rating points to a forecast adjustment rather than a change in view.
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- NetEase's Gaming Performance Likely to Stay Muted in 4Q — Market Talk, 22 October 2026 at 03:36 UTC
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