Tencent down $77 billion as it faces worst margins ever

Jamie McKane

MyBroadband Journalist
Super Moderator
Joined
Mar 2, 2016
Messages
4,610
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]
 
Top