NetEase Keeps Playing to Win
China has been a hot-button topic for U.S. investors for a while now, as trade tensions have made it difficult to have confidence in the Chinese stock market. Even for formerly high-flying companies like video game specialist NetEase (NASDAQ: NTES), it's been hard to keep up with past success, and investors have had to get used to challenges from competitors. Moreover, as other players in the video game industry have thrived, NetEase has felt pressure to keep up with its biggest global rivals.
Coming into its second-quarter financial report, NetEase investors were hoping that the company would keep up the positive momentum that it had built up in the first quarter. NetEase's results showed some continued growth, and many hope that the company will keep generating further gains.
NetEase's second-quarter results looked reasonably good. Sales came in at $2.73 billion, which was down very slightly from where they were three months ago and up about 15% on a local-currency basis from year-ago levels. Adjusted net income of $531 million was higher by 34% from the same period a year ago, and adjusted earnings of $4.09 per share were higher than the $3.04 per share that NetEase brought in during last year's quarter.
Source Fool.com
