NetEase Profit Jumps on Robust Online Gaming

From TheStreet: NetEase Soars on Earnings

"Chinese Web portal NetEase reported a 147% increase in second-quarter profit Tuesday, fueled by revenue growth in its online games.

The Beijing company earned $29.3 million, or 83 cents an American depositary share, in the quarter, compared with $11.9 million, or about 36 cents a share, last year. Revenue rose 90.2% from a year ago to $50.4 million. Analysts had been forecasting earnings of 66 cents an ADS on sales of $44.3 million."

"NetEase said revenue from online game services rose 146.5% from a year ago to $41.5 million, driven by solid growth in its Fantasy Westward Journey and Westward Journey Online II titles. Advertising revenue jumped 30.8% from a year ago to $6.5 million."

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