Netease jumped over 5% in premarket trading as the company will repurchase up to 3 billion US dollars of shares

Netease jumped over 5% in premarket trading as the company will repurchase up to 3 billion US dollars of shares.NetEase's revenue in the third quarter was 22.2 billion yuan (RMB, the same below), a year-on-year increase of 18.9%; The net profit attributable to the mother was RMB 3.2 billion, up 6.1% year-on-year.

In the third quarter, the net income of online game services was 15.9 billion yuan (about 2.5 billion US dollars), a year-on-year increase of 14.7%; The net income of NetEase Youdao (DAO) was 1.4 billion yuan, up 54.8% year-on-year.

At the same time,The board of directors has approved an increase in the amount of the share repurchase program to no more than $3 billion.