
Tencent's quarterly results fell short due to weak consumption in China. The company hinted at potential stimulus boosts, noting that transaction values picked up in October, reversing a prior decline. Tencent also mentioned lower demand for AI cloud services in China compared to the US. Meanwhile, BeiGene reported quarterly revenue of $1.00 billion, a 28.25% year-over-year increase, beating estimates by $40.06 million, with an EPS of -$1.15. NetEase reported Q3 revenue of $3.73 billion, which led to a rise in their stock. Despite a 4.2% decrease in gaming revenue, cloud music and Youdao revenue increased by 1.3% and 2.2% respectively. NetEase's gross margins for YouDao, Cloud Music, and Innovative Business and Others were 50.2%, 32.8%, and 37.8% respectively. NetEase's EPS was $1.66.
NetEase $NTES has released its quarterly earnings. Revenue of $3.74B (-0.07% YoY) beats by $85M. EPS of $1.66 (-8.79% YoY) beats by $0.05.
https://t.co/pMKAgHC62q Falls On China E-Commerce Giant's Mixed Q3 Earnings https://t.co/om427bkMDA
$NTES (+4.7% pre) Earnings Snapshot: NetEase Q3 misses bottom-line estimates; revenue dips 3.9% to $3.73B - SA https://t.co/1hGFApzLhr