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《大行报告》野村:网易(09999.HK)上季收入及盈利均胜预期 重申「买入」评级
阿思达克 11-20 11:51
野村发表报告表示,网易(09999.HK)第三季收入及盈利均优於预期,维持对其「买入」评级及目标价169元,正检讨对其盈利预测。

该行指,网易第三季收入按年升27%,优於市场及该行原预期升24%,主要是创新及其他业务净收入按年升42%,对比该行原预期升25%;网易上季非公认会计准则下营运毛利率按年跌7.8个百分点至19%,但仍较该行原预期高出1.5个百分点,相信是市场推广支出增幅(按年升114%)较该行原预期(料升121%)轻微较少。

野村指,网易第三季非公认会计准则下每股盈利预测1.07元人民币,按年跌26%,但高於市场及该行原预期各0.48及0.57元人民币,主要是上季录投资收益13亿人民币。

该行表示,网易上季旗下手游收入按年升23%,较第二季增速21%加快,亦较该行原预期高1%,个人电脑游戏收入按年升13%,亦符合该行预期。

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