Earnings: NetEase’s Profits Up; Misses Expectations

Chinese portal NetEase‘s Q3 profits rose 137 percent, but shares fell 14 percent as results for China’s second-largest gaming software company fell short of investor hopes amid growing competition.

It posted Q3 net profit of about $32.0 million, compared with $13.2 million a year earlier. Revenues rose 94 percent to $57.2 million.

Online game services revenue rose 119 percent to $46.1 million from a year ago…Revenue from ad services increased to $9.1 million, up 43.8 percent.

More details in the release

Comments have been disabled for this post