<|begin_of_text|><|begin_of_text|><|begin_of_text|>NetEase (Nasdaq: NTES) reported earnings on Feb. 6. Here are the numbers you need to know.
For the quarter ended Dec. 31 (Q4), NetEase beat expectations on revenues and beat expectations<wm> on operating expenses. We were upgraded from a Neutral to Positive on this stock by an I/B/D Research analyst on Q4 expectations.
Q4 net revenues rose 11.4 percent year-over-year, driven largely due to the growth of the company's game-based services, cloud gaming platforms like Garena and Taro. Revenues increased by $5.6 billion. These services contributed $4.2 billion, and were partially offset by the company's cloud gaming operating expenses. Operating expenses increased</wm>, driven mainly due to the company's investments in games, Taro, and employee-related costs.