Tencent Holdings signaled it will reduce its reliance on gaming in China, where ...
HONG KONG - Tencent Holdings signaled it will reduce its reliance on gaming in China, where a regulatory review and one-off investment costs led to its sharpest-ever quarterly profit drop and slowest annual profit growth in 13 years.
Asia’s second-most valuable company also said it will move younger staff into middle management in a shake-up that will see around 10 percent of its managers retire or become consultants. Smartphone games, Tencent’s largest single revenue generator, grew 12 percent in the fourth quarter from a year earlier to 19 billion yuan, compared to 24 percent for 2018.Lau warned Tencent’s gaming releases in China this year would be initially be slower than previous years, this is due to a large backlog of requests the Chinese regulator has to go through. Tencent will seek to grow gaming revenue from overseas markets by exporting its games as well as investment, Lau said.
China’s falling automobile sales amid the country’s weakest economic growth in nearly three decades meant advertisers, especially big-ticket automobile firms, have “become more conservative” in their spending, Lau said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Tencent Music meets profit estimates in first earnings report, shares fallChina-based music streaming company Tencent Music Entertainment Group on Tuesday...
Consulte Mais informação »
Premier Li says China opposes Taiwan independenceChina maintains a 'one-China' policy and opposes independence for Taiw...
Consulte Mais informação »
New U.S. military budget heavily focused on China despite lawmakers’ border wall talkTo a remarkable degree, the 2020 Pentagon budget proposal is shaped by national security threats that acting Defense Secretary Patrick Shanahan has summarized in three words: 'China, China, China.'
Consulte Mais informação »
China plans a solar power play in space that NASA abandoned decades agoChina thinks a solar power project in space to beam energy back to Earth is a viable idea. The renewable-energy concept has been around for decades and continues to have its backers and detractors.
Consulte Mais informação »
Don’t Underestimate a Starbucks Challenger in China, Analyst SaysAs Luckin reportedly moves toward a U.S. listing at a $3 billion valuation, one analyst says Starbucks has a serious challenger in China.
Consulte Mais informação »
In China, scandal engulfs a big seller of traditional medicineAmong Quanjian’s popular products were “negative-ion” sanitary pads that claimed to prevent menstrual cramping and cervical cancer
Consulte Mais informação »
As Xi heads to Italy, Vatican says China should not fear ChurchA top Vatican official says China's government should not fear 'distru...
Consulte Mais informação »
China to prosecute top-ranking Uighur official for corruptionChina's anti-corruption watchdog said on Saturday it would prosecute Nur Be...
Consulte Mais informação »
As China Faces Slowdown, Stimulus Will Have Smaller Global ReachChina’s spending spree during the global financial crisis helped pull the world economy out of recession. This time, Beijing’s stimulus might not pack the same punch.
Consulte Mais informação »