网易:3Q20 Earnings Call-20201119
1Q23 earnings miss on gross margin
–3Q23 earnings beat on better product mix and record-high GPM
3Q24 first take: Earnings in-line with solid margin recovery; Focus on GB200 products in 4Q24E
Earnings beat with double surprises on dividend payout; Maintain Buy
Solid cloud rev growth with improved earnings growth outlook for e-commerce business
Expect solid 2023E earnings; Higher free float to boost valuation
Solid Q3 earnings signal intact growth trajectory
Strengthened earnings certainty drives valuation recovery
PHEVs key to FY24; Earnings likely still resilient