Investing.com - NetEase reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
NetEase announced earnings per share of 28.03 on revenue of 15.73B. Analysts polled by Investing.com anticipated EPS of 24.62 on revenue of 15.17B. That with comparison to EPS of 18.32 on revenue of 19.84B in the same period a year before. NetEase had reported EPS of 36.31 on revenue of 14.64B in the previous quarter. Analysts are expecting EPS of 26.85 and revenue of 15.1B in the upcoming quarter.
NetEase shares are up 12.79% from the beginning of the year , still down 4.20% from its 52 week high of 361.00 set on February 19. They are outperforming the Nasdaq which is down 0.65% year to date.
NetEase follows other major Technology sector earnings this month
NetEase's report follows an earnings beat by Microsoft on January 29, who reported EPS of 1.51 on revenue of 36.91B, compared to forecasts EPS of 1.05 on revenue of 32,512M.
Alphabet C had beat expectations on February 3 with fourth quarter EPS of 15.35 on revenue of 46.08B, compared to forecast for EPS of 12.49 on revenue of 46.93B.
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