Tencent reports Q2 revenue rose 20% YoY to $21.3B, beating estimates, as profit reached $6.6B, up 29% YoY from $5.1B
The Hong Kong-listed company reported a profit of US$6.6 billion in the quarter ended June The results come amid a recent stock market rout for the country's tech sector …
South China Morning Post
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Discussion
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@therealjoshye
@therealjoshye
on x
On teenage gamers. Tencent: During Q2 of 2021, players aged under 16 accounted for 2.6% of our China game grossing receipts. Among which, players aged under 12 accounted for 0.3%.
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@therealjoshye
@therealjoshye
on x
Social and other advertising revenues jumped 28% to 19.5 billion yuan. That growth was also helped by more video advertising in the app's Moments section, similar to Facebook's News Feed. WeChat monthly active users reached 1.25 billion, up 3.8% from the same quarter last year.
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@therealjoshye
@therealjoshye
on x
JUST IN: Tencent's Q2 earnings saw revenue up 20%, net income up 29%. Games deliver robust performance: Games revenue rose 12% to 43bn yuan (US$6.6bn) with mobile games accounting for 40.8 bn yuan. Mobile games grew 13%. Update... https://www.scmp.com/...
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@jchengwsj
Jonathan Cheng
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@wsjeva The new law is a positive for Chinese citizens like lawyer Wu Shengwei, who sued a Chinese video-streaming company over the handling of his data. Tech giants “believe they can do whatever they want with user information...This kind of thinking is...wrong.” https://www.wsj…
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@jchengwsj
Jonathan Cheng
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With a new GDPR-style data-privacy law coming, “ for China's technology firms, the era of free data collection and usage in China—as in, free of responsibilities and at no cost—is over,” says Winston Ma of NYU's law school. @wsjeva https://www.wsj.com/...
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@financialtimes
@financialtimes
on x
China will ban its internet platforms from behaviour deemed to harm market competition, as Beijing's crackdown on the sector intensifies. The move has shaved billions of dollars worth of market value from the country's leading tech companies https://www.ft.com/...