Up 50% in 2020, Does NetEase Stock Still Have Room to Run?
NetEase's (NASDAQ: NTES) stock price rose over 50% this year as the Chinese tech giant impressed investors with the resilience of its gaming, online education, and advertising businesses throughout the COVID-19 crisis.
NetEase's recent second-quarter report supported that bullish sentiment by easily surpassing analysts' expectations. Its revenue rose 26% annually to 18.2 billion yuan ($2.6 billion), beating estimates by $130 million.
Its adjusted net income rose 32% to $5.70 per ADS, beating expectations by $1.08. Its adjusted net profit from continuing operations, which excludes the impact of several divestments over the past year, grew 35% to $0.23 per ADS. NetEase's earnings beat was impressive, but does the stock still have room to run?
Source Fool.com
