11:25 AM EDT, 08/22/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

NetEase ( NTES ) shares fell nearly 10% after the company reported lower-than-expected Q2 results.

The firm posted Q2 adjusted earnings of 12.05 Chinese renminbi ($1.66) per American depositary share, down from 13.88 renminbi per ADS a year earlier.

Analysts surveyed by Capital IQ expected 12.09 renminbi.

Net revenue for the quarter ended June 30 was 25.49 billion renminbi, up from 24.01 billion renminbi a year earlier.

Analysts polled by Capital IQ expected 26.09 billion renminbi.

Price: 83.36, Change: -9.24, Percent Change: -9.97