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Today’s Research Reports on Stocks to Watch: NetEase and Splunk Inc.

NEW YORK, NY / ACCESSWIRE / November 20, 2017 / Shares of NetEase and Splunk both saw gains on Friday and were two of the most active stocks traded in the market. Both companies blew expectations in their third-quarter reports.

RDI Initiates Coverage on:

NetEase, Inc.
https://rdinvesting.com/news/?ticker=NTES

Splunk Inc.
https://rdinvesting.com/news/?ticker=SPLK

NetEase, Inc. shares closed up 12.65% on Friday with a little over 6 million shares traded. The company also hit a new record high of $375.10 during intra-day trading after reporting better-than-expected earnings in its third-quarter report earlier in the week. For the quarter, the company reported adjusted EPS of $3.43 and sales of $1.875 billion. Sales saw a 36% growth from the year-ago quarter. Analysts had been waiting for adjusted EPS of $3.04 and revenue of $1.836 billion. The Chinese video game publisher said its Minecraft game was ranked No. 1 downloaded mobile game its first day of release. Shares of the stock have gained about 18% in the last two trading sessions.

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Access RD's NetEase, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=NTES

Splunk Inc. shares closed up nearly 18% this past Friday on about 13.2 million shares traded. The stock hit a new high of $81.99 during intra-day trading after announcing its third-quarter earnings. The earnings were better than expected and traders were also thrilled to learn the company had raised its guidance for the year. Revenue for the third quarter saw a 34.3% gain year over year to $328.7 million. Analysts had been expecting revenue of about $307 and $308 million. Adjusted net income at $25.1 million, or $0.17 per share was also better than the analyst expectation of $0.14. It was also a growth from the $0.12 reported in the year-ago quarter. CEO Doug Merritt commented, "I'm proud of our global performance for the quarter and our increased outlook through the rest of the year. Splunk customers are seizing upon the growing opportunity machine data presents and only Splunk can help them get answers on-premises, in the cloud or across hybrid environments." Looking ahead the company expects revenue in the range of $388 million and $390 million for the fourth quarter. Analysts had been expecting $383.6 million. For the full year, guidance has been raised to revenue in the range of $1.239 billion and $1.241 billion. Previously the company had forecast $1.210 billion to $1.215 billion.

Access RDI's Splunk Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SPLK

Our Actionable Research on NetEase, Inc. (NASDAQ: NTES) and Splunk Inc. (NASDAQ: SPLK) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com