NetEase Beats Third-Quarter Earnings Goal On Strong Video Game Sales

News Snapshot:

Chinese video game publisher and internet services firm NetEase (NTES) on Thursday beat analyst estimates for earnings in the third quarter on in-line sales. NTES stock fell after the report. X The Hangzhou, China-based company earned an adjusted $1.84 per U.S. share on sales of $3.74 billion in the September quarter. Analysts polled by FactSet had expected earnings of $1.49 a share on sales of $3.74 billion. On a year-over-year basis, NetEase earnings rose 16% while sales climbed 9%. Video games accounted for 80% of NetEase revenue in the third quarter. In addition to online and mobile games, NetEase offers...