Notable News Spotlight: NetEase (NASDAQ:NTES)

On Wednesday NetEase (NASDAQ:NTES) stock traded volume of 620394 shares during its last trading session as compared to its average volume of 613331 shares over the recent month. NTES ended its day with the negative stream along the move of -0.24% and closed at the price of $287.81 before opening at $285. It has total market capitalization is $37183900444. 52 week range of the stock remained $ 209.01 – 309.24 while its day lowest price was $283.56 and its hit its day highest price at $289.43.

On Nov. 20, 2019, NetEase (NASDAQ:NTES) one of China’s leading internet and online game services providers, notified its unaudited financial results for the third quarter ended September 30, 2019.

Third Quarter 2019 Financial Highlights

  • Net revenues were RMB14,635.7 million (US$2,047.6 million), an increase of 11.2% compared to the third quarter of 2018.

– Online game services net revenues were RMB11,534.8 million (US$1,613.8 million), an increase of 11.5% compared to the third quarter of 2018.

– Youdao net revenues were RMB345.9 million (US$48.4 million), an increase of 98.4% compared to the third quarter of 2018.

– Innovative businesses and others net revenues were RMB2,755.0 million (US$385.4 million), an increase of 4.5% compared to the third quarter of 2018.

  • Gross profit was RMB7,870.4 million (US$1,101.1 million), an increase of 8.9% compared to the third quarter of 2018.
  • Total operating expenses were RMB4,535.6 million (US$634.6 million), a decrease of 3.3% compared to the third quarter of 2018.
  • Net income from continuing operations attributable to the Company’s shareholders was RMB12,885.4 million (US$1,802.7 million). Non-GAAP net income from continuing operations attributable to the Company’s shareholders was RMB4,726.0 million (US$661.2 million).
  • Basic net income per ADS from continuing operations was US$13.97; non-GAAP basic net income per ADS from continuing operations was US$5.12.

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