$TENCENT(00700)$ Tencent said in its earnings release: revenue for its China gaming business in the first quarter fell 2% year-on-year, an improvement on the 3% fall seen in the fourth quarter. Gross profit for the ad business grew 66% year-on-year to 14.5 billion yuan.
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.
This should be green today!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments