Tencent’s net income rose 17% to 27.21 billion yuan in the three months ended March, surpassing the 19.4 billion-yuan average of analysts’ estimates. But that was boosted by 11.1 billion yuan of gains, including via adjustments for the fair value of its investee companies.
“Looking forward, we are pursuing multiple initiatives to revitalize growth,” Chief Strategy Officer James Mitchell told analysts on a conference call, citing overseas expansion as well as innovations like season passes for games. Still, the severely bruised gaming division showed signs of life. Tencent last week unveiled Game for Peace — known also as Peacekeeper Elite — a self-produced title in the same vein as global smash PlayerUnknown’s Battlegrounds. It concurrently pulled the plug on the mobile version of PUBG in China, a title it was never allowed to make money on during the months-long freeze.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tencent reports higher earnings than estimated, boosting NaspersOne analyst expects Tencent’s fundamentals to improve in the second half, backed by the launch of new games and stronger monetisation potential of shooting games
Source: BDliveSA - 🏆 12. / 63 Read more »
Tencent Music charges for more content as paying users drive profit beatNumber of online music service users jumps to 28-million
Source: BDliveSA - 🏆 12. / 63 Read more »
BUSINESS MAVERICK: Steinhoff’s future remains bleak after 2017 results highlight scale of its lossesScandal-plagued South African retailer Steinhoff published its long-delayed 2017 results at the witching hour on Tuesday night. The hocus-pocus that triggered the biggest corporate accounting rip-off in SA history seems to be a thing of the past. But if the group hopes to be a viable entity in the future, it may have to rely on magic. Scale of theft. THEFT.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Goldman Sachs’ big, big bet on South AfricaAs if Goldman Sachs’ very public pre-election support for the ANC was not enough, the firm hosted an investment conference on Wednesday that was headlined by President Cyril Ramaphosa and attended by public enterprises minister Pravin Gordhan, investors and SA industry. While the close relationship between government and the investment bank may be music to the ears of business, the timing of the conference looks designed to curry favour — and eyebrows are being raised. They will see their arses in SA
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Can MTN Nigeria change the political optics through its local listing?MTN Nigeria is listing on the Nigerian Stock Exchange on Thursday, signalling a major shift in its approach toward its ongoing problems in its second largest market. It will become effective the second largest stock on the exchange with an opening value of around $5-billion, but whether this will be enough to satisfy Nigeria's rapacious regulators and populist politicians remains an open question.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Thursday May 16: Five Things You Need to Know to Start Your DayTrump s geared down the trade war with Japan and the EU, giving U.S. stocks a welcome boost. And Alibaba posted a 33% jump in sales. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: World Economy Rebound Thrown Into Doubt by Escalating Trade WarThe escalating U.S.-China trade war is threatening to upend the global economy’s much-anticipated rebound and could even throw its decade-long expansion into doubt if the conflict spirals out of control.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Musk Gets Head Start on Bezos Launching SpaceX’s SatellitesElon Musk’s SpaceX has made a business out of launching satellites for commercial customers, NASA and the U.S. military. On Wednesday evening, the company will launch orbital objects of its own in a key step toward creating a space-based constellation that beams broadband to underserved areas across the globe.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Trade War Spurs `Change in Attitude’ on Gold for Spooked MarketsDonald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: May to Bring Brexit Deal Back to Parliament at Start of JuneTheresa May set a date for her final Brexit showdown, promising to bring her deal back to Parliament at the start of June. Talks with the opposition Labour Party haven’t yielded an agreement, but she’s hoping members of Parliament, stung by voter revolts, will back her in order to end the process that’s tearing both main parties apart.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Wednesday May 15: Five Things You Need to Know to Start Your DayStocks in the U.S. soared as traders embraced a more hopeful trade outcome. President Trump called on the Federal Reserve to match China’s countermoves, while the Global Times called the trade dispute a “people’s war.” And as tensions flare in Iran, Trump denied he’s preparing troops but promises lots of them if needed. Here are some of the things people in markets are talking about today
Source: dailymaverick - 🏆 3. / 84 Read more »