Streetbeat News

TCEHY

Tencent Holdings Ltd.

https://www.tencent.com/

CEO

Huateng Ma

Employees

116,213

Tencent Holdings Ltd. is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the largest company in the video game industry in the world based on its investments, with Tencent Games being the subdivision of Tencent Interactive Entertainment Group (IEG) focused on publishing of games.

Open

67.59

Mkt cap

619B

Volume

High

68.42

P/E Ratio

30.93

52-wk high

69.99

Low

67.59

Div yield

0.01

52-wk low

36.24

Tencent Music Entertainment Group reported a 6.8% increase in total revenues for Q3 2024, reaching 7.02 billion yuan (approximately US$1 billion). The growth was driven by higher music subscriptions, but was partially offset by declining revenues from social entertainment services.

Portfolio Pulse from

November 12, 2024 | 2:45 pm

Tencent Music Entertainment missed quarterly revenue estimates due to the impact of Beijing's crackdown on online gambling, affecting its social entertainment segment.

Portfolio Pulse from

November 12, 2024 | 9:30 am

Tencent Holdings ADR denied rumors of layoffs and restructuring, while announcing leadership changes. The company clarified that no widespread job cuts are planned, and its subsidiary TiMi Studio Group is actively recruiting. Tencent is also in talks with Guillemot Brothers Ltd. regarding Ubisoft Entertainment SA, potentially leading to a buyout.

Portfolio Pulse from Franca Quarneti

October 29, 2024 | 7:03 pm

Tencent Holdings ADR is launching the global open beta for Delta Force: Hawk Ops on December 5, aiming to compete with major titles like Call of Duty. The game will feature multiplayer modes and paid content, with no pay-to-win elements. Future updates will include a single-player campaign and more content.

Portfolio Pulse from Franca Quarneti

October 22, 2024 | 6:48 pm

Alibaba and JD.com are easing their rivalry by sharing logistics services in response to economic challenges and regulatory pressures. This collaboration allows merchants on Alibaba's platforms to use JD.com's logistics services, marking a shift towards more open ecosystems. The Chinese government is also considering a significant fiscal stimulus to boost the economy.

Portfolio Pulse from Anusuya Lahiri

October 17, 2024 | 12:13 pm

Tencent and the Guillemot family are considering a joint buyout of Ubisoft, which has seen its share price fall due to poor sales and delays. Tencent holds 9.2% of Ubisoft's voting rights, while Guillemot holds 20.5%. The potential buyout could stabilize Ubisoft's market position.

Portfolio Pulse from The Bamboo Works

October 16, 2024 | 1:06 pm

The People's Bank of China (PBoC) announced new measures to stabilize the Chinese equity market, leading to a significant rally in both the Shanghai Composite Index and Hong Kong's Hang Seng Index. This positive sentiment extended to US-listed Chinese stocks, with notable gains for Alibaba, XPeng, Li Auto, Nio, JD.com, Tencent, and Baidu. The iShares MSCI China ETF, however, ended the previous session down.

Portfolio Pulse from Shanthi Rexaline

October 10, 2024 | 6:14 am

Ray Dalio warns about the complexities of investing in China due to shifting economic policies and government control. Despite recent optimism, Chinese stocks have faced volatility, impacting major indices and tech giants.

Portfolio Pulse from Benzinga Neuro

October 09, 2024 | 10:28 am

Chinese stocks, including tech giants JD.com, Alibaba, and Baidu, faced a sharp selloff as the Hang Seng Index dropped 1.39%. The downturn is attributed to profit-taking and disappointment over Beijing's fiscal policies.

Portfolio Pulse from Benzinga Neuro

October 09, 2024 | 4:28 am

Chinese tech stocks, including Alibaba, Tencent, JD.com, and Baidu, fell sharply after China's $28 billion stimulus announcement failed to meet market expectations. The stimulus aims to support local investment projects amid economic challenges.

Portfolio Pulse from Kaustubh Bagalkote

October 08, 2024 | 9:32 am

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