Chinese gaming giant Tencent is betting on a rise in female players worldwide for its mobile game Honor of Kings, which rolled out to the U.S. and other countries in June. Subscribe to CNBC International TV: Click Here Subscribe to CNBC International: Click Here LinkedIn: Click Here TikTok: Click Here Facebook: Click Here Instagram: Click Here Threads: Click Here X: Click Here Telegram: Click Here
Tencent (TCEHY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Tencent is increasingly leveraging its WeChat ecosystem to set itself apart from other cloud service competitors, Tencent Cloud CEO Dowson Tong said. Tong shared that many of Tencent's clients were keen on building their own mini programs on WeChat's network to attract existing users of the super app to their services.
Julia Pan of UOB Kay Hian says a landmark cooperation between WeChat Pay and other e-commerce sites will help boost Tencent's transaction volumes, boding well for the tech giant's fintech business down the road.
Why Tencent Holdings Stock Triumphed Today
Hang Seng tumbles 1% on tariff fears; Chinese equities under pressure as property and tech stocks lead declines, despite policy support.
Tencent Holdings Limited (OTCPK:TCEHY) Q3 2024 Earnings Conference Call November 13, 2024 7:00 AM ET Company Participants Wendy Huang - Investor Relations Pony Ma - Chairman and Chief Executive Officer Martin Lau - President James Mitchell - Chief Strategy Officer John Lo - Chief Financial Officer Conference Call Participants Kenneth Fong - UBS Alicia Yap - Citibank Ronald Keung - Goldman Sachs Miranda Zhuang - Bank of America Alex Yao - JPMorgan Charlene Liu - HSBC John Choi - Daiwa Thomas Chong - Jefferies Yang Bai - CICC Jialong Shi - Nomura Operator Good day, and good evening. Thank you for standing by.
Chinese gaming and social media giant Tencent on Wednesday reported profit above analysts' expectations, while revenue missed slightly.
Chinese technology giant Tencent Holdings posted on Wednesday a 8% rise in third-quarter revenue, driven by growth in its gaming business after the recent launches of new titles.
China's Spotify analogue Tencent Music Entertainment Group posted 6.8% increase in total revenues for the third quarter of 2024, hitting 7.02 billion Chinese yuan (around US$1 billion). TME attributed the increase to higher music subscriptions, although this was partially offset by lower revenues from “social entertainment services and others”.
Tencent Music Entertainment missed quarterly revenue estimates on Tuesday, as Beijing's crackdown on online gambling continues to impact its social entertainment segment.
ByteDance founder Zhang Yiming is now China's richest person, according to Hurun Research Institute's China Rich List. 41-year-old Zhang, with a personal wealth of $49.3 billion, beat Nongfu Spring founder Zhong Shanshan, who lost his number one spot after topping the list for three years.