China’s NetEase Rises Most in Almost 2 Months as Profit Jumps
NetEase.com (NTES) Inc., China’s second- biggest online games operator, rose the most in almost two months after its first-quarter profit beat analysts’ forecasts.
The company’s American depositary receipts climbed 1.9 percent to $46.82 at 10:24 a.m. in New York. They gained as much as 4.7 percent earlier, the biggest intraday gain since March 21. First-quarter net income jumped 63 percent to 737.4 million yuan ($112.6 million) from a year earlier, NetEase said in a statement yesterday. That beat the 619.6 million-yuan average estimate of 10 analysts surveyed by Bloomberg.
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