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NetEase (NASDAQ: NTES) Reports Positive Earnings, Misses Street Expectations

|Includes: NetEase, Inc (NTES)

Yesterday at the market close, NetEase, China’s third largest online game service provider posted earnings. NTES reported an increase of 4% in net income, jumping from 468.1 million rmb to 485 million rmb. This translates into an earnings per share of $.55 compared to $.53 from a year earlier, analysts were expecting a $.58 increase in earnings per share. Revenue also increased to 1.3 billion RMB from 872.1 million RMB. Although the company’s earnings missed earnings slightly, the overall takeaway for the company has been positive. Currently, NTES is trading at $39.49 up $2.99 or 8% for the day on a volume of 450k.