On May 26, NetEase rose 3.34% overnight, trading at $120.75/share, with trading volume of approximately $353,700.
The rally was driven by NetEase's Q1 earnings report, which delivered results well above market expectations, combined with sustained bullish sentiment from multiple brokerages maintaining buy ratings. Q1 revenue came in at RMB 30.6 billion, up 6.1% year-over-year, beating Bloomberg consensus by approximately 4%. Gaming and related value-added services revenue reached RMB 25.7 billion, up 6.9% YoY, primarily driven by strong performance from self-developed titles including theErta Neverland series andErta Sixteen Kingdoms. Gross profit surged 14.8% to RMB 21.2 billion, with gross margin reaching 69%, a multi-year high. Non-GAAP net income of RMB 11.3 billion exceeded consensus by 13%.
CICC maintained its outperform rating with a target price of HKD 265, while CMB International and Nomura also maintained buy ratings, citing the company's quality game pipeline and growth momentum from the upcoming summer launch of Sea of Oblivion.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)