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Stock Alert: NetEase Nears 52-Week High Ahead Of Q1 Results

Internet and online game services provider NetEase Inc. (NTES) is scheduled to release its Q1 results after the bell on May 19, 2020. Analysts polled by Thomson Reuters expect earnings of $4.01 per share on revenue of $2.21 billion. Analysts' estimate typically exclude certain special items.

Last year, the company reported Q1 net income of RMB2.38 billion, or RMB0.74 per share, adjusted earnings of RMB3.02 billion or RMB0.93 per share, and revenue of RMB18.36 billion.

NetEase provides online advertising services, email services and e-commerce platforms including for online education, music streaming and video streaming.

As lockdowns during coronavirus pandemic brought more people to gaming apps, China's online entertainment industry including video streaming and online gaming saw substantial growth in the first quarter. Another service the company offers- online education- is a segment which was in high demand as many schools and colleges were shut during Covid-19.

In February, NetEase reported 9.2% rise in Q4 revenues, reflecting strong growth in online game services as well as other business segments. Earnings from continuing operations of RMB28.03 per share beat average estimate of 12 Wall Street analysts at RMB24.74.

Shares of NetEase have been trading in the range of $209.01 - $375.98 for the past one year, and closed Friday's trade at $374.41, up $2.38 or 0.64%.

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