Jamie McKane
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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 expected to show that rising costs and investments will hurt profitability at Asia’s biggest listed company.
[Bloomberg]
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 expected to show that rising costs and investments will hurt profitability at Asia’s biggest listed company.
[Bloomberg]