NetEase Inc. (NASDAQ:NTES) stock is trading lower Thursday after the company reported mixed second-quarter results, as revenue topped Wall Street expectations but adjusted earnings missed estimates.
NetEase Revenue Beats, Earnings Miss
NetEase reported second-quarter revenue of $4.44 billion, or 30.1 billion Chinese yuan, up 7.9% year over year. Revenue topped the analyst estimate of $4.30 billion.
Adjusted earnings came in at $1.77 per ADS, missing the $2.28 estimate. Despite solid revenue growth, NetEase saw profit come under pressure from investment losses.
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