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NetEase stock rises after earnings beat

Max A. Cherney

NetEase Inc. shares rose 1.3% in the extended session Wednesday after the company beat earnings expectations. The China-based company reported fourth-quarter net income of $246.9 million, or $1.92 per American depositary share. Adjusted for items such as stock-based compensation, earnings were $2.66 a share. Revenue rose 35.8% to $2.89 billion. Analysts surveyed by FactSet had estimated adjusted earnings of $2.46 a share on revenue of $2.94 billion. For the first quarter, analysts model adjusted earnings of $2.93 million on sales of $2.87 billion. NetEase stock has fallen 25% in the past year, with the S&P 500 index rising 2.3%.