NetEase’s Strong 2Q In Line; FVE Maintained at USD 344 per ADR
NetEase’s decent second-quarter results revealed strong growth momentum following two consecutive weak quarters, which is in line with our expectations and reaffirms our positive outlook on the company’s long-term growth. Net revenue rose 21.7% year over year, or 14.9% sequentially, with solid growth across all business segments. Fast-growing e-commerce continues to lead revenue growth, while online games also offer a bright spot, with revenue rising 15% sequentially--the strongest growth since ...
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