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NetEase (NTES -6.6%) slumps after reporting Q3 revenue of $325.4M (flat Y/Y) and EPS of $0.98,...

NetEase (NTES -6.6%) slumps after reporting Q3 revenue of $325.4M (flat Y/Y) and EPS of $0.98, missing consensus by $8.3M and $0.09. Online gaming revenue (85% of total) fell a bit while advertising and value-added service revenue rose. Opex surged 23% Y/Y to $85.5M thanks in part to higher gave development R&D and promotional spending. A new $100M stock repurchase program (good for buying back 1.6% of outstanding shares at current levels) has been authorized. (PR) (transcript)
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