NetEase (NASDAQ:NTES) earnings for the Chinese tech company’s third quarter of 2019 have NTES stock on the move Wednesday. The company reported adjusted earnings per share of $5.12 on revenue of $2.05 billion. This compares to Wall Street’s estimates of $3.12 per share and revenue of $2.45 billion.
Let’s take a closer look at the most recent NetEase earnings report.
- Per-share earnings for the quarter are up 179.78% from the $1.18 reported during the same time last year.
- Revenue is 9.63% higher YoY than $1.87 billion.
- Operating income of $466.55 million is a %25.60 improvement from the $360.00 million reported in the third quarter of 2018.
- The NetEase earnings report also includes a net income of $466.55 million.
- This is an 83.91% increase over the company’s net income of $253.68 million in the same period of the year prior.
William Ding, Chief Executive Officer and Director of NetEase, says this about the Q3 NTES stock earnings.
“Online games remain the cornerstone of our business with steady growth from our existing titles and exciting new titles in China and globally. Our flagship title Fantasy Westward Journey Online reached new record high gross billings this quarter. We also advanced our international brand with more hit titles such as Knives Out, Identity V and Life-After in Japan.”
It’s worth noting that company leaders will be going over the NetEase earnings report in a conference call tonight. This will take place at 9:00 p.m. Eastern Time. Listeners cal dial in the old-fashioned way or through a webcast.
NTES stock closed out the day without much movement. The stock is currently down 7.93% in after-hours trading on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.