|Bid||303.87 x 800|
|Ask||303.99 x 1400|
|Day's Range||302.24 - 306.26|
|52 Week Range||209.01 - 325.00|
|Beta (5Y Monthly)||0.81|
|PE Ratio (TTM)||45.58|
|Forward Dividend & Yield||16.56 (5.44%)|
|1y Target Est||N/A|
The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?
(Bloomberg) -- Playrix Holding Ltd., a mobile-game developer that made billionaires of its Russian founders, has bought into about a dozen studios to take on the likes of Activision Blizzard Inc. and Electronic Arts Inc.Brothers Igor and Dmitry Bukhman said in an interview that by 2025 they want Playrix’s sales to catch up with those of the U.S. gaming giants. Over the past year they’ve spent more than $100 million on acquisitions and are planning to more than quadruple their portfolio of titles from about four that are available now.While the gaming industry is awash in investors from KKR & Co. to Zynga Inc., the Bukhman brothers are determined to go it alone. They told Bloomberg News in April that while Wall Street dealmakers such as Goldman Sachs Group Inc. had been in touch, they wanted to expand the business themselves.Since then, the brothers haven’t been persuaded of the merits of giving up control over Playrix in favor of a bigger pot of cash to spend. They prefer to leverage their understanding of the industry to act as a consolidator and nurture smaller players.“Many firms are seeking acquisition targets to add to their revenue and show growth to investors,” Igor said. “We don’t have this pressure and are taking a more long-term approach -- we are helping our portfolio companies to grow. We are sharing our experience and playing a role in their growth.”Playrix said 2019 revenue is likely to reach $1.5 billion, as much as 30% more than the previous year’s, from sales of existing games including Gardenscapes. It was the ninth-biggest publisher last year, according to independent gaming data provider App Annie.New TitlesThe Bukhman brothers are betting their new titles, to be released over the next two years, will push sales into the realm of rivals such as Activision, which reported $7.5 billion in revenue for 2018.“Within five years, we are seeking to join the same league as Activision Blizzard or NetEase Inc., but in the European region,” said Igor, without specifying a revenue target.Playrix’s purchases include studios in Ukraine, Serbia, Russia, Croatia and Armenia, and the 600 people added boost its headcount by more than 50%. The investments range from 30% holdings to controlling stakes in companies that will continue to operate independently. These include Nexters, based in Cyprus and one of Europe’s 10 top-grossing game developers, and Vizor Games, based in Belarus.The brothers are valued at about $1.4 billion each by the Bloomberg Billionaires Index. They landed in the rankings by creating a new variety of match-3 games, which involve completing rows of at least three elements to progress through an animated storyline. The latest acquisitions will allow expansion into gaming genres such as hidden object and simulation.The mobile gaming business is set to exceed $68 billion in revenue this year, according to researcher Newzoo, and have been attracting attention from investors. Playrix will have to compete against these deep-pocketed players if it’s to achieve its goals.Zynga acquired Finnish developer Small Giant Games for $560 million last year, while Israeli Playtika Ltd bought Germany’s Wooga and Austria’s Supertreat. KKR-backed AppLovin invested in Belarusian developer Belka Games and two other firms in September.“Capturing lightning in a bottle twice is the true challenge for a creative firm,” said Joost van Dreunen, managing director of SuperData, Nielsen’s game research arm. “With the popularity of Gardenscapes, Playrix has finally established itself as a force to be reckoned with. However, to build a legacy it will need to repeat this trick.”(Adds analyst comment in last paragraph.)To contact the reporters on this story: Ilya Khrennikov in Moscow at email@example.com;Alex Sazonov in Moscow at firstname.lastname@example.orgTo contact the editors responsible for this story: Rebecca Penty at email@example.com, Jennifer Ryan, Thomas PfeifferFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
As we already know from media reports and hedge fund investor letters, hedge funds delivered their best returns in a decade. Most investors who decided to stick with hedge funds after a rough 2018 recouped their losses by the end of the third quarter. We get to see hedge funds' thoughts towards the market and […]
These three U.S.-listed Chinese stocks have done well so far this year and stand to do better than others should the prolonged U.S.-China trade dispute finally come to an end.
Tencent Music's (TME) third-quarter 2019 results benefit from expanded paid mobile subscriber base and increase in the number of users willing to pay for premium music service.
(Bloomberg) -- Baidu Inc. reported quarterly revenue that beat estimates after the Chinese search giant’s business proved resilient to an economic slowdown and competition from ByteDance Inc.Third-quarter revenue came in at 28.1 billion yuan ($4 billion). That was down slightly from a year earlier but exceeded the 27.5 billion yuan average of analysts’ projections. The company also projected revenue of 27.1 billion yuan to 28.7 billion yuan, generally in line with estimates. The shares jumped about 5% in extended trading.Baidu’s Netflix-style iQiyi Inc., which competes with Alibaba Group Holding Ltd. and Tencent Holdings Ltd., also reported revenue ahead of expectations. The results may assuage investors who are worried that the 19-year-old company is losing advertising sales to upstart ByteDance, which offers lower rates and more than a billion users on popular apps such as video services TikTok and Douyin. ByteDance also recently entered the online search business, Baidu’s main product. To offset a slowdown, the company has reduced spending.What Bloomberg Intelligence SaysBaidu’s sales growth may pick up mildly in the coming quarters as advertisers’ demand stabilizes and increases in competitive ad inventory slow. The company is building its own content ecosystem using Baijiahao, smart mini-programs and managed landing pages in a bid to retain users for its search engine, which is increasingly blocked from accessing competitor apps.\- Vey-Sern Ling, analystClick here for the research.Longer term, China’s economy is growing at its slowest pace in 30 years, which could diminish spending on Baidu ads. The company fell off the list of China’s five most valuable internet companies, trailing Meituan Dianping and NetEase Inc., after shedding more than 30% of its market value this year. In May, it posted its first loss since going public in 2005.(Updates with BI analyst’s comment in the fourth paragraph. A previous version of the story corrected currency of outlook in the second paragraph.)To contact the reporter on this story: Zheping Huang in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Colum Murphy, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Positive trade rhetoric over the weekend helped propel U.S.-listed Chinese stocks Monday. Monitor these tech-focused names for opportunities.
Seagate (STX) first-quarter results reflect sequential improvement in HDD exabytes shipments. Robust demand for 16-terabyte products holds promise.