$10.5 billion wiped off Tencent's market value as the Chinese giant strikes a cautious note
Tencent reported second-quarter revenue on Wednesday that missed analyst expectations, but the company beat forecasts on earnings.
Revenue rose 21% year-on-year to 88.82 billion yuan ($12.92 billion, according to the exchange rate published in the earnings statement). That missed market estimates. However, profit attributable to shareholders beat analyst forecasts, rising 35% year-on-year to 24.14 billion yuan.
. Games need to be approved by the Chinese regulators before they can be released and monetized.
"Our assumption is that the macro environment will remain difficult for the rest of the year and that the situation of the heavy supply of advertising inventory will continue for the rest of the year and potentially into next year," he said on the company's earnings call on Wednesday.Read more: CNBC
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Progressive group launches $10 million online voter registration driveThe progressive group ACROYNM's new program, which is currently being tested in Virginia’s down-ballot elections, will target Arizona, Texas, Georgia, and Florida staceyabrams Thoughts This is Russian meddling in the election. Can we vote Republican?
Analysts are predicting China's Tencent will climb back above $500 billion in valueAfter a rough 2018, Tencent has seen something of a revival this year as its gaming business gets back on track. Analysts are bullish about the company's other areas of growth from fintech to advertising.
Tencent’s Profit Rises 35% as New Games Hit MarketThe Chinese internet giant has been reviving its games business this year after a nine-month regulatory freeze on new-game approvals last year battered its business. Jesus! Someone’s gonna get shot! 🙄
China's Tencent cautious after surge in quarterly profitChina's Tencent Holdings , the world's largest gaming company... The big company which also associated with the game PUBG
Opinion | How Uber Makes Its Drivers PayFrom WSJopinion: Uber squeezes money out of drivers who don’t take the depreciation of their vehicles into account, write Ken Wiles and Kep Sweeney opinion opinion Uber me this Uber me that 😂😂😂😂 opinion And by treating them as independent contractors and not W2 workers they are denying workers making at least minimum wage after expenses incurred. Also denying them benefits like paid sick leave, PFL and health insurance coverage. Misclassification of employees is real.
Dow posts biggest one-day drop since October as recession fears take holdWall Street sold off sharply on Wednesday as recession fears gripped the market ... Yawn! Its the Clintons fault Thanks trump