NetEase Q1 Profit Rises - Quick Facts

(RTTNews) - Chinese Internet and online game services providers NetEase, Inc. (NTES) reported net profit for the first quarter of RMB1.12 billion, or US$180.8 million, compared to RMB81.06 million for the year-ago quarter.

First quarter earnings per ADS were RMB8.60, or US$1.38, compared to RMB8.19 in the prior year quarter.

Total revenues for the first quarter rose to RMB2.37 billion, or US$380.5 million, from RMB2.15 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn US$1.40 per share on revenue of US$390.89 million for the first quarter.

On May 13, 2014, the Company's board of directors approved a new quarterly dividend policy commencing in 2014. Under the new policy, quarterly dividends will be set at an amount equivalent to approximately 25% of the Company's anticipated net income after tax in each fiscal quarter.

The board of directors has accordingly declared a dividend of US$0.34 per ADS for the first quarter of 2014, which is expected to be paid on June 6, 2014 to shareholders of record as of the close of business on May 28, 2014.