Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing marke...
HONG KONG - Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing market expectations, as the social media and gaming giant booked a rise in the value of its investments while fintech and cloud computing make up for declines in games.
China’s gaming regulator has spent the year so far working through a backlog of applications to monetize titles, having suspended approvals for most of last year. The impact on Tencent was the sharpest-ever profit drop in the three months through December, and the slowest annual profit growth in 13 years.
Revenue, however, came in just shy of analyst estimates at 85.5 billion yuan, with growth at an all-time low of 16%. Tencent waited in vain for over a year for approval to earn money via in-app purchases on its popular game PUBG Mobile. It pulled the game last week and launched approved title “Peacekeeper Elite”, also known as Game for Peace, a tactical tournament game similar to PUBG but with a socialist makeover.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Tencent first quarter profit beats estimates as FinTech trumps mobile gamingTencent Holdings Ltd booked a 17% profit rise for the three months ended March, ...
Weiterlesen »
China's JD reports slowest revenue growth on record in first quarterChinese e-commerce firm JD.com's revenues grew at their slowest pace on rec...
Weiterlesen »
Tencent Music charges for more content as paying users drive profit beatChina's Tencent Music Entertainment Group said it had started charging for ...
Weiterlesen »
Bank of France estimates second quarter French GDP growth at 0.3 percentThe French economy should grow 0.3 percent in the second quarter, the Bank of Fr...
Weiterlesen »
Sun Life profit misses estimates as wealth sales fall in Canada unitCanadian insurer Sun Life Financial Inc missed estimates for quarterly earnings ...
Weiterlesen »
Alibaba revenue beats estimates on cloud boost; shares riseChina's Alibaba Group Holding Ltd beat analysts' estimates for fourth-...
Weiterlesen »
Policy easing on the cards as Philippine first-quarter GDP growth disappointsThe Philippine economy grew at its weakest pace in four years in the first quart...
Weiterlesen »
Japan's Rakuten profit jumps fourfold on $1 billion Lyft stake gainJapanese e-commerce firm Rakuten Inc's first-quarter operating profit jumpe...
Weiterlesen »
Chinese tech firms' search for growth seen boosting costs in March quarterThree of China's biggest tech companies are expected to report that they ra...
Weiterlesen »
Trump's new tariffs will cost Americans about $500 per household, by one estimateThe ongoing trade war could cost the average American family hundreds of dollars.
Weiterlesen »
Japan's economy likely shrank in first quarter on weak domestic demand, exports: Reuters pollJapan's economy likely contracted slightly in the first quarter as corporat...
Weiterlesen »