Heard on the Street: China’s gaming giant capped an annus horribilis with a dismal set of quarterly numbers Thursday
Last year was a dismal one for China’s gaming giant Tencent. The worst is over, but 2019 will still bring plenty of challenges.
Another poor set of quarterly results Thursday capped the company’s annus horribilis. Net profit for the three months through December fell 32% compared with the same period of 2017—the worst fall since its initial public offering in 2004. Tencent got battered after the government stopped approving games in March. Last year the company made 41% of its sales, and likely most of its profits, from games.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Blink-182's Travis Barker looks to snare a tenant for Calabasas homeThere’s a two-story living room, a breakfast nook, a family room with a corner fireplace and a chef’s kitchen with navy blue cabinetry.
Read more »
Major Obama fundraiser looks likely to support Beto O'Rourke in 2020 run for presidentMark Gallogly, the co-founder of investment firm Centerbridge Partners has signaled to friends that he's likely going to help Beto O'Rourke
Read more »
Rugby - England coach looks to psychology after Twickenham meltdownEngland coach Eddie Jones said he would be bringing in an expert to help his tea...
Read more »
Levi Strauss IPO looks a few sizes too bigThe 166-year-old jeans-to-jumpsuits maker is worth $8.7 bln after shares popped 33 pct on its return to the public market. That’s perhaps justified, but it’s a stretch, suggesting denim will remain in vogue. Recent bankruptcies of two rivals are a reminder such fashion fads fade.
Read more »
‘This is what leadership looks like’: U.S. Democrats rally as New Zealand bans military-style guns'Turns out you can respond with thoughts and prayers,' said. Rep Brendan Boyle (D-Penn.). 'AND ACTION.'
Read more »
Mark Ruffalo's Reaction To People Thinking He Looks Like Noah Centineo Is Too RelatableMark Ruffalo’s Reaction To People Thinking He Looks Like Noah Centineo Is Too Relatable
Read more »
Fed looks to avoid crossed signals at policy meetingOnly two things will really matter when Federal Reserve Chairman Jerome Powell s...
Read more »
AOC praises Jacinda Ardern for weapons ban: 'This is what leadership looks like'New York Representative Alexandria Ocasio-Cortez drew a comparison between New Zealand’s swift action after the mosque shootings and persistent inaction on gun control in the U.S.
Read more »