The Beijing-based online game services provider posted adjusted earnings of $3.67 per share, topping analysts' estimates of $2.62 per share.
Revenue jumped 96% to $1.35 billion year-over-year and was above Wall Street's expectations of $1.26 billion.
Total online game services revenue rose 76% compared to the year ago period.
"Our outstanding second quarter results reflect NetEase's leadership in China's dynamic online games industry where we continue to introduce premium game content, innovative technology and effective marketing strategies," CEO William Ding said in a statement.
Shares of NetEase were declining on heavy trading volume mid-afternoon on Thursday.
About 2.57 million of the company's shares changed hands so far today vs. its average 30-day volume of 994,821 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A+ on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and impressive record of earnings per share growth.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: NTES