Tuesday, 25 September, 2018

Tencent posts impressive first quarter profit growth

Tencent is back in the $500 billion club. The Chinese tech conglomerate which owns the popular We Chat and QQ messaging and payment apps and a host of top mobile games reported earnings that topped forecasts Tencent Sees Profit Increase of 61% Thanks to Games Business
Troy Mann | 17 May, 2018, 12:02

That came after Tencent's rare miss in revenue growth the quarter before, which had prompted worries about a slowdown in games sales, its largest profit driver.

Powered by mobile games, Tencent's online games division raked in 28.8 billion yuan in revenue in the first quarter, posting a 26 percent year-on-year gain. "Smartphone games revenues alone were up 68 percent year-on-year to 21.7 billion yuan, thanks to titles such as 'Honour of Kings'".

The operating profit surged 59 percent to CNY 30.692 billion while the net profit going 61 percent higher to CNY 23.290 billion.

Tencent reported a 111 percent rise in "other" revenue in the quarter to 15.96 billion yuan on growth in payment solutions and cloud services. Now not available in China, it is scheduled to be launched there during the next couple of months. According to Wednesday's release, the company flipped to net debt of 14.5 billion yuan as of March 31, compared to net cash of 16.3 billion yuan at the end of 2017, as a direct result of its investments and mergers and acquisitions activity.

'With Friends Like That, Who Needs Enemies?'
European Union leaders are not expected to make any quick decisions. Because thanks to him we have got rid of all illusions . Tusk said Europe planned to stand its ground.


EA Officially Confirms Battlefield V
It'll broadcast on YouTube , Twitch , and Mixer , and will be hosted by Trevor Noah, who announced the broadcast earlier today. The biggest question that many now have about Battlefield V is the era in which the game will take place.


Scott Wagner to challenge Gov
Scott Wagner may be the frontrunner in our poll, but he says he's acting like the underdog. "That's the first thing I would do". John Fetterman won the five-way Democratic Party primary race for lieutenant governor Tuesday, beating incumbent Mike Stack.


Tencent has invested heavily in video in the past year. That helped drive a 55% local currency gain in advertising revenue to 10.69 billion yuan.

There's an argument to be made for stripping out extraneous items because Tencent runs the games and social side of the business itself, but doesn't have direct control over investees. It invested $632 million in game-streaming platforms Douyu in March, $462 million the same month on Huya.

In a battle for the world's largest mobile payment and retail market, Tencent has splashed out billions forging alliances with new partners like Carrefour and subsidising merchants to lure them onto its payment-to-messenger super app WeChat.

The company is exploring ways to integrate short video into its social network platforms, Tencent chairman and chief executive Pony Ma Huateng said in March during annual parliamentary meetings in Beijing. Not only can this add to the moat and diversity of Tencent's operations, emerging rivals can also be turned into members of the group at an early stage. Tencent has big stakes in several notable Chinese companies, including e-commerce giant JD.com (JD).

Recommended

John Legend and Chrissy Teigen welcome baby number two John Legend and Chrissy Teigen welcome baby number two Model Chrissy Teigen , 32, and singer John Legend , 39, have announced the arrival of their baby boy, who comes ahead of schedule. Teigen tweeted the news late Wednesday night, writing, "Somebody's herrrrrrre!" followed by a series of baby bottle emojis.

Amazon's AWS jumps into blockchain fray with new partner Amazon's AWS jumps into blockchain fray with new partner Kaleido, which was launched today, May 15th, will feature "popular Ethereum packages Geth and Quorum". He said it can also help connecting enterprises' private blockchains to the ethereum network.

IMD issues thunderstorm warning for next 72 hours in North India IMD issues thunderstorm warning for next 72 hours in North India As you all may know and we told you before that till now more than 80 people are died in six states because of thunderstorm and lightning strikes.

Apple and Samsung are back in court over seven-year patent dispute Apple and Samsung are back in court over seven-year patent dispute Apple then took the smartphone market by storm due to how it packaged technology, rather than developing the technology itself. Lee showed the jury a series of Samsung phones released before, shortly after and years after the iPhone's debut in 2007.

Petrol, Diesel Prices Hiked Again Across India Petrol, Diesel Prices Hiked Again Across India Since September 2013, petrol prices are at their highest level and diesel prices are also at their all-time high in Delhi . A litre of diesel in Delhi will now cost ₹ 66.57, while in Mumbai , one litre of diesel now costs ₹ 70.88 in Mumbai .

United States offers to work with Europe on new Iran deal United States  offers to work with Europe on new Iran deal As we can see, European officials are trying to make public opinion ready for accepting new limitations on the nuclear deal. Scholz had also asked for concrete measures to help German companies, Handelsblatt newspaper reported .

'Click it or ticket' seatbelt enforcement starts today 'Click it or ticket' seatbelt enforcement starts today "Our whole idea is to try to increase the seat belt usage rate in the state of Tennessee and that's done by enforcement". The National Click It or Ticket Campaign starts this week and continues through June 3, 2018.

Michigan State University reaches $500000000 settlement with Nassar survivors Michigan State University reaches $500000000 settlement with Nassar survivors He was also found to have child pornography and is serving prison sentences that will likely keep him locked up for life. The settlement drew mixed reviews from those abused by Nassar.

Jos Buttler handed shock recall for first Test with Pakistan Jos Buttler handed shock recall for first Test with Pakistan He has impressed everyone with his performances for Somerset and England representative teams. He has not played a first-class match since September.

WB Panchayat elections: Re-polling underway in 568 booths WB Panchayat elections: Re-polling underway in 568 booths The voting took place for 621 zilla parishads, over six thousand panchayat samitis, and almost 31 thousand gram panchayats. The decision came after post-poll scrutiny of reports of political violence that marred the polling across the state.

Lando Calrissian Spinoff May Be Next in STAR WARS Universe Lando Calrissian Spinoff May Be Next in STAR WARS Universe What Kennedy actually said was Lucasfilm would love to eventually make a Lando spin-off one day, but this is now not a priority. Donald Glover's Lando Calrissian better start preparing for his closeup.

Pope Francis Decries 'Spiral of Violence' in Middle East Pope Francis Decries 'Spiral of Violence' in Middle East Pope Francis finished his catechesis on baptism with an especially energetic audience. "I was in Ausonia in the year '59". Christian education, he said, is a right of each child so that they can gradually come to know the plan of God for them.

OPCW finds "likely use of chlorine as chemical weapon" in Saraqib, Syria OPCW finds I strongly condemn the continued use of toxic chemicals as weapons by anyone, for any reason, and in any circumstances. The FFM's mandate is to determine whether chemical weapons or toxic chemicals as weapons have been used in Syria .

'Shenmue III' (ALL) Delayed Until 2019 'Shenmue III' (ALL) Delayed Until 2019 In a very brief statement published today, Deep Silver announced that Shenmue 3 has been pushed back to sometime in 2019. We promise to use this time to improve the quality of Shenmue III .We can not thank you enough for your enduring support.

Gotze dropped from Germany's provisional squad Gotze dropped from Germany's provisional squad Germany included injured captain Manuel Neuer in its preliminary World Cup squad and striker Nils Petersen was a surprise call-up. Low's backroom team of Thomas Schneider, Andreas Kopke, Oliver Bierhoff and Marcus Sorg have also all extended their contracts.