NetEase reported better-than-expected third-quarter earnings. Revenue at NetEase jumped 114% from a year ago to 6.67 billion yuan, 19% higher than consensus estimates. Earnings per share came in at $2.24, well above the $1.75 consensus estimate polled by Factset. Gaming revenue, which contributes to over three quarters of NetEase’s top-line, jumped 125% year-on-year, driven by mobile games. In the third-quarter, NetEase launched their Westward Journey mobile game, now a top gross game in the Apple iOS China app store.
E-commerce, which contributes to 15% of NetEase’s total revenue, increased by 176%, helped by its cross-border e-commerce platform Kaola.com. NetEase rose 4.6% in after-hours trading.
Source: Netease
