Tencent Holdings Ltd. posted a better-than-expected 35% rise in quarterly earnings after Peacekeeper Elite became the gaming giant\u2019s first break-out hit since it won regulatory approval to make money off new titles.<\/p>\n
Net income rose to 24.1 billion yuan ($3.4 billion) in the three months ended June, the Shenzhen-based company said on Wednesday, beating the average estimate of 21.1 billion yuan compiled by Bloomberg. Adjusted earnings per share were 2.46 yuan, compared with the 2.39 yuan average projection.<\/p>\n
Tencent is on track for accelerating growth in the second half thanks to hits like Peacekeeper Elite and durable titles like Honour of Kings.<\/p>\n
To fend off challenges from short video operator ByteDance Inc., Tencent\u2019s adding content and services to its super-app WeChat, partnering with China\u2019s largest Q&A platform Zhihu, and linking more users to its mini-programs — lite apps that allow access to services from other companies, including ride-hailing, food delivery and bike sharing.<\/p>\n
\u201cWe expect gaming revenue to re-accelerate starting from the second quarter onward,\u201d said David Dai, a Hong Kong-based analyst at Bernstein, adding this would also drive an acceleration of overall revenue.<\/p>\n
Revenue rose 21% to 88.8 billion yuan, compared with analysts\u2019 estimates for 93.4 billion yuan. Shares of Tencent rose 1.8% in Hong Kong before earnings were announced.<\/p>\n
Tencent posted a better-than-expected 35% rise in quarterly earnings.<\/p>\n","protected":false},"author":341034,"featured_media":256183,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[46898,18941],"class_list":["post-316419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-analyst-estimates","tag-tencent"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/316419"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=316419"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/316419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/256183"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=316419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=316419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=316419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}