Netease.com Gains On Q4 Earnings Increase

Posted on Thursday, February 21, 2008 4:09 PM

(RTTNews) - Netease.com (NTES) rallied on Thursday after the company posted a year-over-year increase in fourth quarter earnings as revenues increased compared to last year. The stock opened higher and added further gains in the opening hour. Trading was generally sideways from there and shares finished at $20.87, up $1.97 on the day. This is its best close in 3 1/2 months. The company reported net income of RMB 389.83 million or US$53.44 million for the quarter, compared to RMB 320.23 million in the comparable quarter last year. On a per-share basis, fourth quarter earnings increased to RMB 0.12 per share or US$0.02 per share from RMB 0.9 per share in the last year quarter. Earnings were RMB 3.01 per ADS or US$0.41 per ADS, compared to RMB 2.34 per ADS in the prior year quarter. For comments and feedback: contact editorial@rttnews.com