, Inc. Earnings Cheat Sheet: Beats the Street on Profit Rise, Inc. (NASDAQ:NTES) reported net income above Wall Street’s expectations for the second quarter., Inc. is a China-based Internet technology company, which is engaged in the development of applications, services and other technologies for the Internet in China.

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock. Earnings Cheat Sheet for the Second Quarter

Results: Net income for, Inc. rose to $119.5 million (91 cents per share) vs. $71.6 million (55 cents per share) in the same quarter a year earlier. This marks a rise of 66.9% from the year earlier quarter.

Revenue: Rose 39% to $268.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: NTES beat the mean analyst estimate of 78 cents per share. It beat the average revenue estimate of $246.2 million.

Quoting Management: William Ding, Chief Executive Officer and Director of NetEase, stated, “For the second quarter of 2011, we delivered strong quarter-over-quarter and year-over-year growth across our online games and advertising services. Second quarter online games revenue increased 13.9% quarter-over-quarter driven by our newly launched self-developed game, Ghost, as well as continued demand for Fantasy Westward Journey and World of Warcraft, a game licensed from Blizzard Entertainment. Online games revenue increased by 33.6% year-over-year, mainly as a result of the growth in our self-developed games, including Fantasy Westward Journey, Ghost, Westward Journey Online II, Tianxia II and Heroes of Tang Dynasty, along with continued revenue growth from World of Warcraft.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 15 cents in the first quarter, by 13 cents in the fourth quarter of the last fiscal year, and by 4 cents in the third quarter of the last fiscal year.

Competitors to Watch: Inc. (NASDAQ:SOHU),, Inc. (NASDAQ:BIDU), SINA Corporation (NASDAQ:SINA), Giant Interactive Group Inc (NYSE:GA), Perfect World Co., Ltd. (NASDAQ:PWRD), Shanda Interactive Entertainment Ltd ADR (NASDAQ:SNDA), The9 Limited (NASDAQ:NCTY), Shanda Games Limited (NASDAQ:GAME), and China Telecom Corp. Ltd. (NYSE:CHA).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)