Tencent books record, estimate-busting first-quarter profit, boosted by investment gains [Reuters]
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: Reuters
Tencent books record, estimate-busting first-quarter profit, boosted by investment gains - Reuters 3 Min Read HONG KONG (Reuters) - Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing market expectations, as the social media and gaming giant booked a rise in the value of its investments while fintech and cloud computing make up for declines in games. Even so, revenue grew at its slowest-ever rate as heightened regulatory scrutiny hobbled its gaming operations, allowing earnings from financial technology (fintech) and other business services to eclipse smartphone games for the first time. China’s gaming regulator has spent the year so far working through a backlog of applications to monetize titles, having suspended approvals for most of last year. The impact on Tencent was the sharpest-ever profit drop in the three months through December, and the slowest annual profit growth in 13 years. Approvals restarted in December, with Tencent receiving permission to laun
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TME
Earnings
- 11/12/24 - Miss
TME
Sec Filings
- 11/12/24 - Form 6-K
- 10/15/24 - Form 6-K
- TME's page on the SEC website