Why NetEase Stock Soared 48% So Far in 2017

Shares of Chinese online services company NetEase (NASDAQ: NTES) have gained nearly 50% in value since the beginning of the year, according to data provided by S&P Global Market Intelligence, fueled by the torrid growth of China's video game market.

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NetEase got off to a fast start in 2017, popping 20% in February on the heels of a strong fourth-quarter earnings report that revealed a 53% year-over-year revenue leap to 12.099 billion Chinese renminbi (RMB), or roughly $1.74 billion. Adjusted net income rose an even more impressive 68%, to $4.30 per diluted American depositary share (ADS), prompting NetEase's board of directors to approve a nearly 30% increase in its quarterly dividend.

Source: Fool.com