NetEase reported its second quarter earnings for fiscal year 2024, revealing a revenue of ¥25.49 billion, which fell short of analyst expectations of ¥26.12 billion. This represents a year-over-year increase of 6.1%. The company's gross profit was reported at ¥16.04 billion, also below the estimated ¥16.23 billion. Net profit for the quarter declined by 17% year-over-year to ¥6.8 billion (approximately $930 million). In contrast, the gaming segment showed resilience, with revenue from games and related services reaching ¥20.1 billion, marking a 6.7% increase from the previous year. Adjusted earnings per share were reported at $1.66, slightly above the expected $1.65. Meanwhile, Pinduoduo, which operates Temu, reported a substantial revenue increase of 86% year-over-year to ¥97.06 billion, although this figure was below the market expectation of ¥99.42 billion. The company's net income surged by 144% year-over-year to approximately ¥32.56 billion, with an adjusted earnings per share of ¥23.24, surpassing the estimate of ¥20.43.