NetEase Inc. (NTES) reported first quarter earnings per ADS of $1.14 after the bell Wednesday, compared to $0.89 in the prior year quarter. The consensus estimate was for EPS of $1.01.
NetEase gapped open sharply higher Thursday, but gave back some gains in the first half hour of trade, before settling into a range. The stock closed down by 2.78 at $60.47, with volume at a 6-month high. NetEase closed challenging the upper end of a 2-month range at the highs of the year.
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