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NetEase Q3 Profit Surges

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.

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