Shares ofNetEase (NASDAQ: NTES)popped 20.1% last month, according to data provided byS&P Global Market Intelligence, as the Chinese internet technology company's strong fourth-quarter earnings report was applauded by investors.
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Revenue surged53%year over year, to 12.099 billion Chineserenminbi (RMB), or roughly $1.74 billion. The gains were broad-based, with NetEase enjoying solid sales increases across its product lines.
"Led by mobile games, we saw year-over-year net revenue increases in the fourth quarter of 62.8% from online games, 9.2% from advertising services, and 38.2% from our email, e-commerce and others segment," said CEO William Ding in a press release.
Helping to fuel this growth is NetEase's impressive ability to pump out popular new games.
"With more than 40 new mobile titles in 2016, we have introduced a number of chart toppers toChina'sthriving mobile market," Ding said.
All told, adjusted net income was $4.30 per diluted American depositary share (ADS), representing year-over-year growth of 68%. In turn, NetEase's board of directors approved a nearly 30% increase in its quarterly dividend to $1.01 per share.
NetEase's shares have pulled back about 5% so far in March, but the stock still fetches about double what it did just one year ago. Long-term shareholders have been even more well rewarded, with NetEase's stock up a dazzling 1,470% over the last decade. And with thealready-massive global video game market likely to only grow larger in the coming decade, it appears more good times are ahead for NetEase -- and its investors.
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