NetEase slips after Q2 results miss estimates

NetEase

22/08/2024 11:10

** U.S.-listed shares of Chinese games giant NetEase
 NTES.O   9999.HK  fall 4.9% to $88.10 premarket
    ** Co's Q2 revenue of RMB25.5 bln ($3.5 bln) misses analysts
estimates of RMB25.9 bln - LSEG data
    ** Q2 adj. EPS per American Depository Share (ADS) of
RMB12.05 ($1.66) below estimates of RMB12.11 
    ** Stock also tracking declines in the broader Chinese stock
market
    ** Twenty-nine brokerages rate co "buy" or higher, while two
rate it "hold", median PT at $127.10 - LSEG 
    ** Stock down marginally so far this year, as of last close 
    

($1 = 7.1367 Chinese yuan renminbi)

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))