How Tencent, The 'Chinese Facebook,' Compares To Its US Counterpart
China-based Tencent reported second-quarter results earlier this week. The company is considered by many to be the "Facebook Inc (NASDAQ: FB) of China" since it controls most of the biggest social media platforms in the country, WeChat/Weixin and QQ.
Sites like Facebook, Instagram and Snapchat are banned from China, which gives Tencent a near monopoly in the social media space. But Tencent is more than just a handful of social media apps; it's also considered to be the biggest gaming company in the world, according to PC Games Network. More recently, Tencent bought a 5 percent passive stake in Tesla Inc (NASDAQ: TSLA).
So just how big is Tencent compared to its American peers?
Tencent and fellow Chinese company Alibaba Group Holding Ltd (NYSE: BABA) continue to battle each other for the title of China's most valuable technology company, Statista noted. This would imply Tencent is valued at around $420 billion (based on Alibaba's capitalization on Thursday), which does fall short of Facebook's $488 billion valuation.
Facebook also has an advantage in terms of revenue and net income. Facebook's net income for the first half of 2017 totaled $7.0 billion on $17.4 billion compared to Tencent's net income of $4.8 billion on revenue of $15.7 billion.
Facebook boasts the biggest social media app in the planet. Its core-Facebook platform has 2.006 billion monthly active users, compared to Tencent's WeChat/Weixin which has 963 million monthly active users.
You will find more statistics at Statista
Related Links:
Investors Love The Stocks In This Emerging Market ETF
Here's Why You Should Care About Chinese Startups
See more from Benzinga
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
