NetEase Inc.'s stock soared 5.77% in the pre-market trading session on Tuesday, as investors became increasingly optimistic about the company's future growth prospects.

The surge in share price came after recent strong earnings performance, with the company's earnings per share rising 135% over the past three years. This impressive growth has led to a high price-to-earnings (P/E) ratio of 16.5, indicating that investors are willing to pay a premium for the company's shares in anticipation of continued strong earnings growth.

While analysts' forecasts suggest earnings growth of around 11% per year over the next three years, which is in line with the broader market, some investors appear to be even more bullish on NetEase's prospects. However, there are concerns that the current high P/E ratio may not be sustainable if future earnings fail to meet these elevated expectations.