U.S. Stocks Movement | NetEase (NTES.US) rises 7% as Q2 gaming revenue beats expectations

According to news from Zhitong Finance APP, on Friday, NetEase (NTES.US) rose 7% to $128.29. On August 20, NetEase announced that its total net revenue for the second quarter was 30.11 billion yuan and game revenue was 25.02 billion yuan, both exceeding market expectations; gross profit was 21.22 billion yuan, up 17.5% year-on-year. Online game revenue increased by 10% year-on-year to 24.5 billion yuan, the group's gross margin rose from 64.7% to 70.5%, and the gross margin of games and related services reached 76.1%, mainly due to a decline in channel sharing costs.