NetEase Q3 Profit Surges

(RTTNews) - NetEase Inc. (NTES) reported that its net income from continuing operations attributable to the company's shareholders for the third quarter of 2019 surged to RMB 12.89 billion or US$1.80 billion from RMB 2.06 billion in the third quarter of 2018. Net income from continuing operations per ADS was US$13.85 compared to US$2.24 last year.

Non-GAAP net income from continuing operations per ADS rose to US$5.08 from US$2.94 in the previous year.

Net revenues for the quarter were RMB 14.64 billion or US$2.05 billion, an increase of 11.2% from last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $3.12 per share and revenues of $2.45 billion. Analysts' estimates typically exclude special items.