NetEase Misses Estimates

Chinese Internet portal NetEase reported a 30% jump in Q2 earnings and said it entered an agreement to use Google’s pay-per-click advertising service.

The onetime highflier has been victimized by stiff competition and stricter regulation in China for SMS-based services, a NetEase segment that saw Q2 revenue plunge 37% from a year ago to $4.5 million. Revenue from the company’s online-game segment rose 25% to $15.9 million.

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