NetEase Q2 Profit Rises

(RTTNews) - Chinese Internet and online game services provider NetEase, Inc. (NTES) reported net income for the second quarter of RMB1.4 billion or RMB10.77 per ADS, compared to RMB1.2 billion pr RMB9.18 per ADS for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was RMB1.6 billion or RMB12.02 per ADS, compared to RMB1.3 billion or RMB9.72 per ADS in the prior year quarter.

Net revenues for the second quarter rose to RMB4.57 billion from RMB2.77 billion a year ago.

Analysts polled by Thomson Reuters expected the cmpany to earn RMB10.88 per ADS on revenue of RMB4.38 billion for the second quarter. Analysts' estimates typically exclude special items.

NetEase said its board of directors has approved a dividend of US$0.44 per ADS for the second quarter, which is expected to be paid on September 4 to shareholders of record on August 28. The company paid a dividend of US$0.39 per ADS for the first quarter on June 5.