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NetEase (NTES) Stock Lower Despite Q2 Earnings Beat

NEW YORK (TheStreet) -- NetEase (NTES) reported better-than-anticipated earnings and revenue for the 2016 second quarter late Wednesday.

The Beijing-based online game services provider posted adjusted earnings of $3.67 per share, topping analysts' estimates of $2.62 per share.

Revenue jumped 96% to $1.35 billion year-over-year and was above Wall Street's expectations of $1.26 billion.

Total online game services revenue rose 76% compared to the year ago period.

"Our outstanding second quarter results reflect NetEase's leadership in China's dynamic online games industry where we continue to...