China Internet on Watch Following Stron Tencent Q2 Results; SINA (SINA), Netease (NTES) Report Later
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Price: $14.94 +0.54%
EPS Growth %: +183.3%
Financial Fact:
Cost of sales - software royalties and amortization: 61M
Today's EPS Names:
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EPS Growth %: +183.3%
Financial Fact:
Cost of sales - software royalties and amortization: 61M
Today's EPS Names:
LBIX, ESEA, ISS, More
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China Internet companies are on watch following bullish numbers from Tencent holdings Wednesday.
According to China's largest Internet company by revenue, net profit rose 32 percent to RMB 3.1 billion (about $492 million), which is the strongest increase since the first-quarter of 2011. Analysts were looking for profit of RMB 3 billion.
Online gaming revs rose 53 percent to RMB 5.6 billion, though the number was just a 4.6 percent increase from the prior quarter. Online ad revs rose 72 percent to RMB 879.7 million. The rise comes amid Tencent and Activision (Nasdaq: ATVI) collaborating over bringing Activision's "Call of Duty" to China.
E-Commerce revs rose 14 percent to RMB 857.5 million.
Following the report, traders will be watching names like SINA Corp. (Nasdaq: SINA), Netease (Nasdaq: NTES), Perfect World (Nasdaq: PWRD), Shanda Games (Nasdaq: SNDA), and others. SINA and Netease are scheduled to report quarterly results after the market closes Wednesday.
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According to China's largest Internet company by revenue, net profit rose 32 percent to RMB 3.1 billion (about $492 million), which is the strongest increase since the first-quarter of 2011. Analysts were looking for profit of RMB 3 billion.
Online gaming revs rose 53 percent to RMB 5.6 billion, though the number was just a 4.6 percent increase from the prior quarter. Online ad revs rose 72 percent to RMB 879.7 million. The rise comes amid Tencent and Activision (Nasdaq: ATVI) collaborating over bringing Activision's "Call of Duty" to China.
E-Commerce revs rose 14 percent to RMB 857.5 million.
Following the report, traders will be watching names like SINA Corp. (Nasdaq: SINA), Netease (Nasdaq: NTES), Perfect World (Nasdaq: PWRD), Shanda Games (Nasdaq: SNDA), and others. SINA and Netease are scheduled to report quarterly results after the market closes Wednesday.
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