On August 22nd, NetEase Youdao released its Q2 2024 financial report. According to the financial report, in the second quarter of 2024, NetEase Youdao achieved a revenue of 1.3 billion yuan, an increase of 9.5% compared to the same period in 2023; The net loss attributable to ordinary shareholders of Youdao was RMB 99.5 million, compared to a net loss of RMB 299.2 million in the same period last year, and the extent of the loss narrowed year-on-year.
According to the financial report, in the second quarter of 2024, NetEase Youdao's learning service revenue was 643.8 million yuan, a year-on-year decrease of 5.5%; The revenue from smart devices was 166.7 million yuan, a year-on-year decrease of 25.0%. NetEase explained that the decrease in unit price was caused by changes in product mix. The net revenue from online marketing services was 511.2 million yuan, an increase of 68.4% compared to the same period in 2023.