Shares of NetEase (NASDAQ: NTES) fell in pre-market trading after the Internet company providing premium online services reported earnings for its fourth quarter of FY23 of $1.08 per ADS but fell short of analysts’ consensus estimate of $1.18 per share.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Net revenues increased by 4% year-over-year to $3.7 billion but missed analysts’ expectations of $3.68 billion.
The company’s Board of Directors has approved a quarterly dividend of $0.27 per ADS to holders of ordinary shares and holders of ADSs as of the close of business on March 9, 2023. As a part of its stock buyback program, as of December 31, 2022, NTES had bought around 2.7 million ADSs at a total cost of $22 million.
NTES stock has declined by 4.3% in the past year.