NetEase falls after Q1 net income misses estimates

NetEase

23/05/2024 15:28

** U.S.-listed shares of NetEase  9999.HK   NTES.O  fall
1.7% to $96.75
    ** Co posts Q1 net income of RMB7.80 bln missing analysts'
average estimate of RMB8.32 bln - LSEG data 
    ** The Chinese video game giant has missed net income
estimates in two out of the last seven quarters
    ** Co's Q1 adj. EPS per U.S. - listed share, however, beats
estimates
    ** Stock also tracking declines in domestic market on
implications of delayed monetary policy easing in major
economies amid sticky inflation 
    ** 28 brokerages maintain a "buy" or higher rating on the
co, while one rates it "hold"; median PT at $133 - LSEG data
    ** Stock has gained marginally YTD
    
     
    ($1 = 7.2412 Chinese yuan renminbi) 

 (Reporting by Purvi Agarwal and Johann M Cherian in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))