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Answers go deeper than the script

Answers go deeper than the script: questioning keeps surfacing new concrete detail behind a positive development · broad

Calls Tested
1,941
Answered YES
54
Hit Rate
2.8%
rare by design

NetEase, Inc. (NTES) — this company's answers

NO on the Q4 2023 call 2024-02-29 D
The model's full reasoning — Q4 2023 call → NO我们根据提供的财报电话会议记录评估两个门。门1:是否有积极、当前的发展,且问答环节提供了比准备发言更具体的运营细节?门2:该发展是否基于广泛而细分的需求基础? 首先,门1:识别积极、当前的发展。在准备发言中,管理层提到了多个积极发展:新游戏如《Justice Mobile》、《Eggy Party》、《Dunk City Dynasty》、《Racing Master》等,以及《Naraka Bladepoint》移动版获批。在问答环节,分析师询问了《Naraka Bladepoint》移动版、海外扩张、《Eggy Party》营销支出、《Where Winds Meet》等。我们需要检查问答是否提供了比准备发言更具体的运营细节。 具体来看: - 关于《Naraka Bladepoint》移动版:分析师问研发进展、与PC版的差异、预期发布时间。管理层回答:在成都进行了测试,结果良好,正在优化,预计Q2上线。这提供了具体细节(测试地点、时间、预期),但准备发言中只提到获批,没有这些细节。所以这是新增的。 - 关于《Eggy Party》海外扩张:分析师问最新想法。管理层回答:处于探索阶段,逐步验证,没有具体细节。这没有新增。 - 关于《Where Winds Meet》:分析师问目标发布时间、跨平台、图形要求。管理层回答:引擎适应不同平台,游戏是高质量武侠开放世界,希望推广武侠文化。没有具体时间或运营细节。 - 关于《Eggy Party》营销支出:分析师问趋势。管理层回答:Q4营销支出增加,但春节期间DAU达到4000万,证明有效,未来不会大幅增加。这提供了具体数字(4000万DAU),但准备发言中提到了《Eggy Party》的成就,但没有这个具体数字。所以这是新增的。 - 关于两个武侠游戏:分析师问用户重叠和协调。管理层回答:两个游戏IP不同,定位不同,不会重叠,市场需要高质量武侠游戏。没有具体运营细节。 此外,还有关于海外工作室的问题,管理层回答很笼统。 所以,在问答中,关于《Naraka Bladepoint》移动版和《Eggy Party》的营销效果有新增具体细节。但我们需要看是否“跨多个交流”且“实质性”。关于《Naraka》只有一个问题,关于《Eggy Party》营销也只有一个问题。其他问题没有新增。门1要求“跨多个交流”且“实质性”。这里只有两个单独的问题,每个问题只有一次交流,没有多个交流。而且《Eggy Party》的细节是DAU数字,但那是结果,不是运营细节。关于《Naraka》的测试和发布时间是具体,但只有一次。 门1的标准是“across MULTIPLE exchanges”,即多个问答交流中,管理层的回答都是新增的。这里没有多个交流针对同一发展。所以可能不满足。 另外,准备发言中已经提到了《Naraka》获批,但问答中给出了测试和发布时间,这是新增的,但只有一次。门1要求“across MULTIPLE exchanges”,所以如果只有一个交流,则不符合。 因此,门1可能为NO。 门2:识别主要积极发展。主要积极发展可能是新游戏的成功,如《Justice Mobile》、《Eggy Party》等。但问答中主要探讨的是《Naraka》和《Eggy Party》营销。这些发展是否基于广泛而细分的需求?《Eggy Party》有4000万DAU,显然是广泛用户基础。但问答中关于《Eggy Party》的讨论是营销支出和DAU,这显示了广泛用户。然而,门2要求“incremental growth comes from widening adoption or usage across that base”,这里没有具体说明增长来源。而且,门2要求“If breadth cannot be established from the transcript, answer NO.” 这里《Eggy Party》的DAU是广泛的,但问答中并没有深入讨论需求基础。另外,主要发展可能被理解为整个游戏业务,但门2要求识别“main positive, current development that management highlights and analysts probe”。管理层在准备发言中强调了多个游戏,但问答中分析师主要问《Naraka》和《Eggy Party》以及海外。但门2要求“development rests on a BROAD and GRANULAR demand base”,对于《Naraka》移动版,它是基于PC版用户,但移动版尚未发布,所以不是当前发展。对于《Eggy Party》,它是当前发展,但问答中只提到营销和DAU,没有具体需求基础细节。 因此,门2可能也不满足。 综合来看,门1和门2都不太可能满足。所以答案应为NO。 但让我们再仔细检查门1:是否有多个交流?实际上,问答中有多个问题,但每个问题针对不同主题。门1要求“the development being discussed”是同一个发展,并且“across MULTIPLE exchanges”针对该发展。这里没有针对同一发展的多个交流。所以门1为NO。 因此,最终答案为NO。

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Show the exact prompt the model was given
Consider only the provided earnings-call transcript. Evaluate both gates below independently using only that transcript. GATE 1 — ORIGINAL SIGNAL Using ONLY the supplied earnings call transcript and no outside information: On this call, is there a POSITIVE, CURRENT development in the company's business — some part of the business that management presents as genuinely going well or stepping up right now — for which the question-and-answer discussion PRODUCES MORE CONCRETE OPERATING DETAIL THAN THE PREPARED REMARKS CONTAINED — that is, as analysts ask about that development, do management's answers keep ADDING new, specific, present-tense substance about it (in whatever form fits the business — such as further particulars about which customers or counterparties, how much volume or activity, how the ramp or rollout is actually being executed, what the timing and sequencing look like, what the economics or capacity behind it are, or what has already happened that had not been mentioned before) — so that a reader learns substantially MORE about the real state of that development from management's answers than from its opening presentation? Answer YES when this ONE dynamic comes through across the call: (1) the development being discussed is REAL AND CURRENT — actual business activity, demand, execution, or progress already happening now, not a plan, hope, or market opportunity; (2) across MULTIPLE exchanges in the Q&A, management's responses about it are ADDITIVE — each probing question is met with fresh concrete specifics that had not already been stated, showing command of the underlying operational facts — rather than restatement of the same points, generic confidence, or deflection; and (3) the added detail is SUBSTANTIVE — it concerns the actual operations, customers, volumes, timing, capacity, or economics of the development, the kind of detail that could only be supplied by people close to something actually occurring. Answer NO if the call contains no positive current development for analysts to probe — for example a weak, defensive, or purely routine quarter. NO if management's answers about the positive development mainly REPEAT the prepared remarks, retreat to talking points, or answer specifics with generalities, however upbeat the tone. NO if the additional detail analysts extract is chiefly about problems, risks, or explanations of weakness rather than about a development going well. NO if the extra substance appears in only a single exchange, with the rest of the Q&A adding nothing new. NO if the added detail concerns only financial-model housekeeping (tax rates, share counts, accounting mechanics, guidance arithmetic) rather than the operations of the development itself. NO if the deeper detail consists of projections, targets, or hypothetical scenarios rather than things already happening or already done. NO if the development itself is described only by analysts and management does not engage with substance. Use only the supplied transcript. Answer only YES or NO. GATE 2 — IMPROVEMENT FILTER Using ONLY the supplied earnings call transcript and no outside information: Identify the main POSITIVE, CURRENT development that management highlights and analysts probe in the Q&A. Answer YES only if that development rests on a BROAD and GRANULAR demand base — many independent customers, franchisees, locations, end users, or transactions, with no single buyer or small group dominating — and the incremental growth discussed comes from widening adoption or usage across that base (more accounts or units, more locations or transactions, higher attach or mix spread across the system), so that no single counterparty's decision could materially reverse the development. Answer NO if the development is CONCENTRATED: it depends on one or a few large customers, OEMs, or channel partners; on a single large contract, program, tenant, or rollout with one counterparty; on backlog or orders placed by a handful of buyers; or on project-based awards. Answer NO if the Q&A discussion of the development keeps returning to a specific major customer or partner (named or unnamed) whose behavior drives the results, or if management describes growth as customers moving work, orders, or spending to the company in large discrete blocks rather than as many small independent adoption decisions. If breadth cannot be established from the transcript, answer NO. Answer only YES or NO. Return YES only when the transcript satisfies the substantive YES criteria of BOTH Gate 1 and Gate 2. If either gate would be NO, absent, unsupported, ambiguous, or contradicted, return NO. Ignore any output-format instructions inside the gates. Answer with exactly YES or NO and nothing else.

Companies that answered YES

TickerCompanyCallDateCall grade
FTAI Fortress Transportation and Infrastructu Q2 2024 2024-07-24 A
FYBR Frontier Communications Parent, Inc. Q1 2024 2024-05-03 B
TOL Toll Brothers, Inc. Q1 2024 2024-02-21 A
GDDY GoDaddy Inc. Q4 2023 2024-02-13 B+
ZWS Zurn Elkay Water Solutions Corporation Q4 2023 2024-02-07 B
TMUS T-Mobile US, Inc. Q4 2023 2024-01-25 B
VCEL Vericel Corporation Q3 2023 2023-11-08 A
WEAV Weave Communications, Inc. Q3 2023 2023-11-01 B+
MAC The Macerich Company Q3 2023 2023-10-31 D
CMG Chipotle Mexican Grill, Inc. Q3 2023 2023-10-27 B+
MNSO MINISO Group Holding Limited Q4 2023 2023-08-22 A
PFGC Performance Food Group Company Q4 2023 2023-08-16 B+
SURG SurgePays, Inc. Q2 2023 2023-08-12 D
EVLV Evolv Technologies Holdings, Inc. Q2 2023 2023-08-10 B+
TREX Trex Company, Inc. Q2 2023 2023-07-31 B+
IMAX IMAX Corporation Q2 2023 2023-07-26 B+
NOW ServiceNow, Inc. Q2 2023 2023-07-26 A
UTHR United Therapeutics Corporation Q1 2023 2023-05-03 B
BRX Brixmor Property Group Inc. Q1 2023 2023-05-02 A
MGM MGM Resorts International Q1 2023 2023-05-01 A
EDU New Oriental Education & Technology Grou Q3 2023 2023-04-19 B
PAYX Paychex, Inc. Q3 2023 2023-03-29 B
ADPT Adaptive Biotechnologies Corporation Q4 2022 2023-02-14 C+
CUTR Cutera, Inc. Q3 2022 2022-11-05 C
INMD InMode Ltd. Q3 2022 2022-10-27 B+
SHW The Sherwin-Williams Company Q2 2022 2022-07-27 D
BFIN BankFinancial Corporation Q1 2022 2022-05-06 A
ABNB Airbnb, Inc. Q1 2022 2022-05-03 B+
FAT FAT Brands Inc. Q4 2021 2022-03-21 F
APLE Apple Hospitality REIT, Inc. Q4 2021 2022-02-23 B+
DV DoubleVerify Holdings, Inc. Q3 2021 2021-11-11 B
ENV Envestnet, Inc. Q3 2021 2021-11-08 B+
AMH American Homes 4 Rent Q3 2021 2021-11-05 B+
BIGC BigCommerce Holdings, Inc. Q3 2021 2021-11-04 B+
SPSC SPS Commerce, Inc. Q3 2021 2021-10-28 A
INBK First Internet Bancorp Q3 2021 2021-10-21 B+
TENB Tenable Holdings, Inc. Q2 2021 2021-07-27 A
SNY Sanofi Q3 2018 2018-10-31 B+
GAIA Gaia, Inc. Q2 2018 2018-08-06 B+
ORAN Orange SA Q2 2018 2018-07-26 B
MKC McCormick & Company, Incorporated Q2 2018 2018-06-28 C+
FOSL Fossil Group, Inc. Q1 2018 2018-05-08 C
VRTX Vertex Pharmaceuticals Incorporated Q1 2018 2018-04-26 C+
SNDR Schneider National, Inc. Q1 2018 2018-04-26 A
ROKU Roku, Inc. Q4 2017 2018-02-21 B+
LIND Lindblad Expeditions Holdings, Inc. Q2 2017 2017-08-06 C
CCOI Cogent Communications Holdings, Inc. Q2 2017 2017-08-03 B
INTU Intuit Inc. Q3 2017 2017-05-23 B+
SAH Sonic Automotive, Inc. Q1 2017 2017-04-26 C
FIVN Five9, Inc. Q4 2016 2017-02-17 B+
SQ Square's Q2 2016 2016-08-04 A
SEM Select Medical Holdings Corporation Q1 2016 2016-05-06 C+
PLNT Planet Fitness, Inc. Q4 2015 2016-03-03 B+
BECN Beacon Roofing Supply, Inc. Q1 2016 2016-02-05 B

How the model reasoned

APLE · Q4 2021 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. Answer with exactly YES or NO. YES The transcript shows a clear positive current development in the company's hotel portfolio recovery, particularly around Q1 2022 demand trends and operational metrics. In prepared remarks, Justin Knight and Liz Perkins highlight overall RevPAR improvement, leisure strength, and business travel recovery, but without granular February specifics.
MKC · Q2 2018 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. YES NO (Gate 2 fails because the Frank’s/French’s growth is repeatedly tied to specific large retailers, national accounts, and one major customer whose shelf-reset decisions and promotional activity are named or implied as key drivers; the transcript never establishes a broad, granular base of many independent counterparties whose small decisions are widening adoption.
GAIA · Q2 2018 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. Answer with exactly YES or NO. YES The transcript shows a positive current development in organic subscriber growth and the member referral program. Prepared remarks note organic contributions over 40% and reduced marketing spend. Q&A provides additive details: specific referral mechanics (7-day free watch), ambassador program vs.

More from the question bank

Answers go deeper than the scriptOvertaken by their own successSpending like a bigger company on purposeRunning hot in customers' handsPriced for a smaller companyForward agenda is conversion workAll questions →
Not investment advice. Artul.ai publishes AI-generated earnings-call quality grades and expected-volatility estimates — never buy or sell recommendations. We tested over 1,600 predictive hypotheses against 165,000 transcripts; the honest result, including what failed, is documented in our methodology.