Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming.Tencent beat analyst estimates for revenue and profit in the first quarter, thanks to slightly better sales in the Chinese tech giants core gaming business and improved profitability at its advertising and business services division.Here's how Tencent did in the March quarter versus LSEG consensus estimates:Revenue: 159.5 billion Chinese yuan ($22 billion) versus 158.4 bi ...

About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

Core Insights - Tencent has simplified the process for international visitors to register for WeChat accounts and link international cards to Weixin Pay, enhancing mobile payment accessibility in mainland China [1][2] Group 1: Weixin Pay Enhancements - International users can now register for WeChat using an overseas mobile number and link eligible international cards to Weixin Pay, allowing access to millions of merchants in mainland China [1] - The card linking process enables international visitors to spend a certain amount safely and conveniently [1] - Users seeking higher transaction limits can complete an identity verification process, increasing the single transaction limit from $1,000 to $5,000 and the annual limit from $10,000 to $50,000 [2] Group 2: Cross-Border Payment Initiatives - International visitors can also link UnionPay's Tour Card, a prepaid card, through Weixin Pay [2] - Malaysian visitors can utilize their local eWallet in the PayNet system to make payments in mainland China by scanning Weixin Pay QR codes [2] - Tencent's Tenpay Global will collaborate with NetsUnion to connect more wallets, further enhancing cross-border payment capabilities [2] Group 3: Inbound Tourism and Mobile Payments - Inbound tourism to China is increasing, leading to a rise in mobile payment usage by visitors [3] - Tencent previously announced that WeChat users can link cards from Visa, Mastercard, JCB, or Discover to facilitate payments at millions of merchants in China [3] - The company aims to improve the mobile payment experience for overseas users by supporting international cards and connecting local wallets with mainland China [3]

Tim Robberts/DigitalVision via Getty Images Tencent Holdings Limited (OTCPK:TCEHY) is a promising growth investment in FY 2024 as the company returned to double digit top line growth in FY 2023 and the online advertising business is seeing an acceleration of growth as well. Although U.S.-based investors may be hesitant to consider Tencent as an investment due to operational focus on China, the gaming and social media company is extremely profitable on a free cash flow basis. Shares are also very attractivel ...

Nikada Introduction Per my June 2023 article, Tencent (OTCPK:TCEHY) is too big to be ignored. My thesis is that they are using AI to significantly improve their online advertising segment. At the time of this writing, RMB 1,000 is equivalent to about $138. The Numbers The First Superapp book by Kevin Shimota explains how Tencent is advantaged with ad measurement given their closed system. Purchases are often made in mini apps inside Tencent’s ecosystem: Marketing teams love closed-loop systems. They ...

Michael Vi Tencent (OTCPK:TCEHY) shares traded up 1.5-2.0% after the Chinese tech giant reported Q4 and FY 2023 results. Although revenue came in somewhat lower than expected, profits surged 23% YoY, comfortably beating consensus. In addition, Tencent surprised markets positively by revealing a $12.8 billion stock buyback program (expected to be up 100% YoY), as well as a 40% jump in dividend payments. Personally, I see the ramp up in distributions as a major bull signal, as I have previously voiced neg ...

Tencent Holdings Ltd. (OTCPK:TCTZF) Q4 2023 Earnings Conference Call March 20, 2024 8:00 AM ET Company Participants Pony Ma - Chairman, Chief Executive Officer Martin Lau - President James Mitchell - Chief Strategy Officer John Lo - Chief Financial Officer Wendy Huang - Investor Relations Conference Call Participants Kenneth Fong - UBS William Packer - Exane BNP Alicia Yap - Citigroup Ronald Keung - Goldman Sachs Robin Zhu - Bernstein Charlene Liu - HSBC Alex Yao - JP Morgan James Lee - Mizuho Operator Good ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Tencent is one of the world's leading gaming firms and developer of China's ubiquitous messaging and services app WeChat. Chinese internet giant Tencent on Wednesday posted its lowest annual profit since 2019, despite slight improvements recently in China's economy and a more lenient attitude taken by regulators towards the tech ...

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Group 1 - Tencent's subsidiary Riot Games is laying off 530 employees globally to focus on its main offerings due to underperformance of some projects [1][2] - The layoffs will primarily impact employees involved in smaller projects, including the Legends of Runeterra team, which has not met performance expectations [2] - Riot Forge, the division responsible for outsourcing smaller projects, will also be closed, allowing Riot Games to concentrate on multiplayer experiences like League of Legends, Valorant, Teamfight Tactics, and Wild Rift [2] Group 2 - Riot Games CEO Dylan Jadeja stated that unsustainable cost growth and lack of room for experimentation are putting the core business at risk [1] - Following the announcement of layoffs, TCHEY stock has decreased by 3.1% as of Tuesday morning [2]