NetEase (NTES-S) shares are soaring 10.89% in pre-market trading on Friday, following the release of its impressive first-quarter 2025 earnings report. The Chinese internet technology company significantly outperformed analyst expectations, demonstrating strong growth in both earnings and revenue.

NetEase reported adjusted earnings of 17.51 Chinese yuan (CNY) per share for the quarter ended March 31, 2025, surpassing the mean expectation of 13.98 CNY from nine analysts. This represents a substantial increase from the 13.10 CNY per share reported in the same quarter last year. The company's revenue also showed healthy growth, rising 7.4% year-over-year to 28.83 billion CNY, beating the analyst consensus of 28.49 billion CNY.

The strong quarterly performance has contributed to NetEase's impressive year-to-date gains, with the stock up 35.99% so far this year. Wall Street maintains a bullish outlook on NetEase, with the current average analyst rating at "buy" and a median 12-month price target of $120.00. As the company continues to demonstrate robust growth in its core businesses, investors will be watching closely to see if NetEase can maintain this momentum in the coming quarters.