U.S. stock futures were mixed this morning, with the Dow futures falling around 50 points on Tuesday.
Tencent Music Entertainment Group's New York listed shares slumped in Tuesday's pre-market session as the Chinese streaming giant said a sharp drop in the number of people using its karaoke platforms had driven a slump in its second quarter revenue.
Tencent Music Entertainment topped estimates for quarterly revenue on Tuesday as its paid subscriber base grew across its music streaming platforms, sending its U.S. listed shares up 2.4% in premarket trading.
When it comes to gaming, the use of ChatGPT-like generative artificial intelligence is still in an exploratory phase, according to Liang Chen, general manager of Tencent Cloud's internet industry department. Chen said that AI has long been used by gaming companies for pattern recognition and other functions, but effective use of generative AI comes with high costs.
Tencent's Q1 showed promise with continual momentum in the online ads business. Tencent's strong gross profit growth and high free cash flow margins make it potentially attractive as a capital return play. The company's low valuation, with a P/E ratio of less than 14X, presents an opportunity for investors.
Geographically, China leads with 38,210 inventions from 2014 to 2023, far outpacing the U.S. (6,276), Republic of Korea (4,155), Japan (3,409) and India (1,350). Tencent, Ping An Insurance and Baidu are among the top ten inventors, the UN report showed.
Tencent Holdings Ltd's newly launched "Dungeon & Fighter" (DnF Mobile) has got off to a strong start, dominating top-grossing charts on Apple's iOS platform in China for nearly a month, industry data showed.
Tencent, China's largest game developer by revenue, announced that it is removing its popular mobile game “Dungeon & Fighter” (DnF Mobile) from certain Android app stores starting Thursday.
Tencent is removing from Thursday its hit mobile game "Dungeon & Fighter" (DnF Mobile) from selected Android app stores as its contracts have expired, the company said.
Tencent Holdings maintains a leading position in the Chinese gaming, social networks, and tech sectors, with the majority of revenue now generated by non-VAS segments. Domestic gaming offers upside potential if regulatory pressures are eased to meet submerged demand. Strong balance sheet, cash flows, buybacks, and diversifying businesses show good prospects, but geopolitical jitters pose downside risks.
Chinese internet giant Tencent Holdings' mobile game "Dungeon and Fighter" was the top-selling app on Apple's App Store in China this week, surpassing the company's existing flagship games after it spent years looking for a new marquee title.