The world's largest Chinese investment Internet company, Tencent Holdings, at the end of the fourth quarter of last year, reported a decrease in net profit by 32% to 14 billion 230 million yuan. Experts had expected a decline to 17 billion 550 million yuan. The main reasons for such a sharp drop in profits were a reduction in revenue as a result of the moratorium imposed on the approval of new games in China, and increased competition. At the same time, revenue was higher than experts' forecasts, having increased by 28% to 84 billion 900 million dollars. At the same time, the company noted that the growth rate of revenue slowed down 2 times compared to a year ago. The growth in the price of services Tencent increased over the year by 43% mainly due to higher costs for the creation of the content. The company recorded a quarterly increase in revenue from social networks by 25%, from online advertising - by 38%.
China’s Tencent buys Malaysian streaming platform Iflix in a push into South East Asia10.06.2020
Global airlines heading for $84 billion net loss in 2020: IATA05.06.2020
Gap reports nearly $1 billion first-quarter loss amid the virus outbreak02.06.2020
China's Tencent Holdings in talks to buy Warner Music stakes worth $200M