tencent

  1. Jamie McKane

    Tencent beats analyst estimates

    Tencent beats analyst estimates Tencent Holdings Ltd. posted a better-than-expected 35% rise in quarterly earnings after Peacekeeper Elite became the gaming giant’s first break-out hit since it won regulatory approval to make money off new titles. Net income rose to 24.1 billion yuan ($3.4...
  2. Jamie McKane

    Tencent posts biggest profit shortfall in 10 years

    Tencent posts biggest profit shortfall in 10 years Tencent Holdings Ltd. posted a slump in fourth-quarter earnings on increased spending as its prized games business showed signs of recovery after a brutal 2018. Net income fell 32 percent to 14.2 billion yuan ($2.1 billion), missing the 17.55...
  3. Jamie McKane

    Tencent share price surges as recovery continues

    Tencent share price surges as recovery continues Tencent Holdings Ltd.’s quiet recovery has turned dramatic, leaving traders to wonder whether there’s a hidden reason behind the stock’s latest leg up. The biggest Asia-listed company has jumped more than 8 percent this week, its best three-day...
  4. Jamie McKane

    Users protest after Tencent invests in Reddit

    Users protest after Tencent invests in Reddit Reddit Inc. said Monday that it raised $300 million from investors. It was one backer, in particular, that drew condemnation from members of Reddit’s online community. Chinese internet giant Tencent Holdings Ltd. was among the investors in the...
  5. Jamie McKane

    China kills 9,300 apps and tears into Tencent's news service

    China kills 9,300 apps and tears into Tencent's news service China is stepping up its efforts to rein in the country’s internet, singling out Tencent Holdings Ltd.’s popular news app for spreading vulgar information while shutting down more than 700 websites and thousands of apps in the span of...
  6. Jamie McKane

    Tencent shares rally after China resumes approving games

    Tencent shares rally after China resumes approving games Shares in Tencent Holdings Ltd. jumped 4.5 percent after Chinese media reported that regulators have resumed approving games, signaling a potential end to a hiatus that’s chilled the world’s biggest gaming industry. Tencent and peers...
  7. Jamie McKane

    Tencent Music soars on trading debut

    Tencent Music soars on trading debut Tencent Music Entertainment Group climbed in its U.S. trading debut Wednesday after pricing its initial public offering at the bottom of a marketed range. China’s largest music-streaming service, which is backed by Tencent Holdings Ltd., and current holders...
  8. Jamie McKane

    Tencent is no longer one of the world's 10 biggest companies

    Tencent is no longer one of the world's 10 biggest companies More bad news for Tencent Holdings Ltd.: the Chinese Internet giant has lost its spot as one of the world’s 10 biggest companies. After shedding over $200 billion in market value this year, more than any other company worldwide...
  9. Jamie McKane

    Tencent's $220-billion rout is breaking records

    Tencent's $220-billion rout is breaking records The $220 billion rout in shares of Tencent Holdings Ltd. has entered uncharted territory. Not only has the Chinese Internet giant lost more market value than any other company worldwide this year, its 38 percent drop from a closing high in...
  10. Jamie McKane

    Tencent Music files for $1-billion US IPO

    Tencent Music files for $1-billion US IPO Tencent Music Entertainment Group, the online-music arm of China’s largest social-media company, filed for a initial public offering in a continuing surge of U.S. listings by Chinese companies. The music-streaming site listed its offering size as $1...
  11. Jamie McKane

    Tencent share price falls after first profit drop in 10 years

    Tencent share price falls after first profit drop in 10 years Tencent Holdings Ltd. slumped after the Chinese social media giant reported shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain. Tencent surprised...
  12. Jamie McKane

    Tencent share price falls after first profit drop in 10 years

    Tencent share price falls after first profit drop in 10 years Tencent Holdings Ltd. slumped after the Chinese social media giant reported shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain. Tencent surprised...
  13. Jamie McKane

    Tencent share price drops as China shuts down Monster Hunter: World

    Tencent share price drops as China shuts down Monster Hunter: World Tencent Holdings Ltd. slumped after taking another hit to its gaming business when regulators told the social media giant to remove Monster Hunter: World from its PC downloads service just days after the action title’s debut...
  14. Jamie McKane

    Tencent's $143-billion drop is the world's biggest share wipeout

    Tencent's $143-billion drop is the world's biggest share wipeout If you thought the slump in U.S. technology stocks was bad, take a look at Tencent Holdings Ltd. The Chinese Internet giant has tumbled 25 percent from its January peak, erasing about $143 billion of market value. [Bloomberg]
  15. Jamie McKane

    Tencent bets big on esports in China

    Tencent bets big on esports in China The screams of 18,000 people packed into a Shanghai stadium swell to a crescendo. Slight of figure and mostly bespectacled, 10 young men take their seats in LED-lined boxes straight out of Tron, don headsets, lock thumbs onto giant smartphones -- and the...
  16. Jamie McKane

    Tencent builds online trading platform for Chinese bonds

    Tencent builds online trading platform for Chinese bonds Tencent Holdings Ltd. is joining forces with a finance startup to create a system for over-the-counter bond deals, banking on its appeal to the army of traders that already rely on its popular messaging services. China’s biggest...
  17. Jamie McKane

    Tencent-backed electric car startup to file for IPO

    Tencent-backed electric car startup to file for IPO NIO, the Chinese electric-vehicle startup backed by Tencent Holdings Ltd., has filed confidentially for a planned U.S. initial public offering, people with knowledge of the matter said. The Shanghai-based carmaker has submitted an initial...
  18. Jamie McKane

    Tencent surges after delivering record profit

    Tencent surges after delivering record profit Tencent Holdings Ltd. surged after delivering record profit that topped analyst estimates, calming investors who’d braced for a big hit to margins. The stock climbed as much as 7.1 percent in Hong Kong, its biggest intraday gain in more than...
  19. Jamie McKane

    Tencent revenue tops estimates due to mobile games

    Tencent revenue tops estimates due to mobile games Tencent Holdings Ltd. posted a quarterly profit that exceeded estimates, bolstered by mobile game blockbusters like PlayerUnknown’s Battlegrounds as users on China’s most popular social network surpassed a billion for the first time...
  20. Jamie McKane

    Tencent down $77 billion as it faces worst margins ever

    Tencent down $77 billion as it faces worst margins ever After the giddy heights of January when its shares hit an all-time high, Tencent Holdings Ltd. has shed $77 billion in value as investors price in the costs of the Internet giant’s massive spending spree. Results on Wednesday are...
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