Chinese Internet and game services provider NetEase (NASDAQ: NTES) announced its Q2 results with adjusted net earnings from continuing operations of $1.93 per ADS in Q2, beating analysts’ estimates of $1.27 per share.
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The company’s net revenues in the second quarter were $3.3 billion (RMB24 billion), up by 3.7% year-over-year but fell short of Street estimates of $3.45 billion.
NetEase has approved a dividend of $0.5250 per ADS for the second quarter to holders of ordinary shares and holders of ADSs as of the close of business on September 8, 2023.
William Ding, CEO and Director of NetEase commented, “Players continue to revere our flagship Fantasy Westward Journey series, while embracing newer titles like Eggy Party that extend our reach in casual games. In addition to games, our Cloud Music and Youdao businesses remain on track and are generating premium content.”
Analysts are bullish about NTES stock with a Strong Buy consensus rating based on a unanimous 13 Buys.