|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||45.26 - 46.24|
|52 Week Range||31.54 - 55.50|
|Beta (3Y Monthly)||1.15|
|PE Ratio (TTM)||33.88|
|Forward Dividend & Yield||0.11 (0.24%)|
|1y Target Est||50.10|
China's Tencent reported disappointing profits in the fourth quarter on theback of surging costs but saw emerging businesses pick up steam as it plots todiversify amid slackening gaming revenues
Razer is summoning a big gun as it bids to develop its mobile gaming strategy. The Hong Kong-listed company -- which sells laptops, smartphone and gaming peripherals -- said today it is working with Tencent on a raft of initiatives related to smartphone-based games. Some of the objectives include optimizing Tencent games -- which include megahit PUBG and Fortnite -- for Razer's smartphones, mobile controllers and its Cortex Android launcher app.
Tencent earnings fell more than expected in the fourth quarter on soaring costs and weak games revenue for the Chinese internet giant. Revenue of $12.37 billion beat views of $12.26 billion.
Gaming Ban and Higher Costs Hit Tencent’s Q4 EarningsTencent’s fourth-quarter earnings Tencent (TCEHY) reported its fourth-quarter earnings results on March 21, 2019. The company generated revenue of 84.9 billion Chinese yuan, a YoY
Activision (ATVI), in collaboration with Tencent, announces the public beta version of Call of Duty: Mobile, exclusively developed for Android and iOS users.
Tencent Holdings signalled it will reduce its reliance on gaming in China, where a regulatory review and one-off investment costs led to its sharpest-ever quarterly profit drop and slowest annual profit growth in 13 years. "Our revenue mix is getting increasingly diversified, with fast growth from performance-based advertising and 'other' revenues," Tencent President Martin Lau said on Thursday. Lau was referring to a segment that included Tencent's new cloud business, which posted its first annual revenue of 9.1 billion yuan ($1.36 billion).
Net income fell 32 percent to 14.2 billion yuan ($2.1 billion), missing the 17.55 billion-yuan average of estimates, on investments in content, cloud computing and financial technology. China’s social media leader is emerging from one of its darkest periods, as game approvals slowly resume and the country’s economic slowdown cools demand for advertising.
Okay, so maybe Tencent Holdings Ltd. did post its biggest net-income miss in, like, forever.(2) And operating profit fell off a cliff. First, monetization of games recommenced in December after the Chinese government gave the go-ahead for Tencent to actually extract revenue from eight new titles. Despite China's regulatory clampdown on new games, Tencent's 4Q sequential decline of just 2.6% in mobile game sales -- to 19 billion yuan, is better than market expectations.
Levi’s will begin its life as a public company today and more IPOs are coming soon. Ford is investing more in electric vehicles, but it isn't the only auto maker planning for an electric future. Also in focus are results from China’s Tencent, and the Fed’s message about the economy.
HONG KONG (Reuters) - Tencent Holdings, Asia's second-most valuable listed firm, said on Thursday its revenue mix will diversify further, with the contribution from the company's non-gaming business increasing. ...
posted its biggest-even profit decline Tursday, as a nine-month ban on new video game approvals in China clipped the tech giant's bottom line. Tencent said net profit for the three months ending in December came in at 14.299 billion yuan, missing the consensus forecast and falling 32% from the same period in 2017. Smartphone games sales rose 19% to 19 billion, Tencent said and were up 24% for the whole of 2018 to 77.8 billion.
March 21 (Reuters) - Razer Inc: * RAZER ANNOUNCES MOBILE GAMING COLLABORATION WITH TENCENT Source text for Eikon: Further company coverage:
The Singapore state investment company is considering selling around a 10 percent stake in A.S. Watson for about $3 billion, according to the people, who asked not to be identified because the information is private. Tencent may team up with some investment funds for an offer for the stake in A.S. Watson, which is a unit of Hong Kong tycoon Victor Li’s CK Hutchison Holdings Ltd., the people said. The holding has also drawn interest from Chinese tech billionaire Jack Ma’s Alibaba Group Holding Ltd., according to the people.
The most valuable stock in Asia has added 3.2 percent in the past week, the best run-up prior to any release since its 2017 first-quarter update, according to data compiled by Bloomberg. The Chinese Internet giant, which is only just recovering from one of its darkest periods, will report results after Thursday’s close of trading in Hong Kong. The bank has a buy rating on Tencent and a price target that implies a 12 percent rally in the next year.
Tencent Holdings is set to report on Thursday its sharpest quarterly profit decline in more than 13 years, as its failure to launch new blockbuster games due to China's regulatory review capped revenue growth. China resumed new gaming approvals in December after a nine-month hiatus partly due to concerns over violent content and gaming addition. Investors will be keenly watching for updates from Tencent's top management about the games approval process and whether it will participate in a multi-billion-dollar bid for South Korean gaming firm Nexon to beef up its games portfolio.
More Action: US-China Trade Talks Resume Next WeekUS-China trade talks The US and China have held four rounds of trade talks since President Trump and President Xi Jinping agreed to a 90-day truce last year. President Trump extended the truce
Tencent’s Q4 Earnings: Analysts' Expectations(Continued from Prior Part)In the news Tencent (TCEHY) has been in the news for the last few days. According to Bloomberg, Tencent “is weighing a bid for part of Temasek Holdings Pte’s stake in
The business, which could fetch at least $1.5 billion, has also drawn interest from local supermarket operator Yonghui Superstores Co., the people said. The German retailer is willing to sell as much as 80 percent of the Chinese business while retaining a significant minority if an attractive offer is made, Bloomberg News reported last month. The company picked Citigroup Inc. and JPMorgan Chase & Co. to run a review of its Chinese business, people with knowledge of the matter said last year.
Tencent profits have taken a tumble after Chinese regulators conducted a review of the lucrative online gaming sector. Julian Satterthwaite reports.