Tencent profit beats on investment gain, no progress on China gaming [Reuters]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
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Source: Reuters
Tencent profit beats on investment gain, no progress on China gaming | Reuters 5 Min Read HONG KONG (Reuters) - Tencent ( 0700.HK ) beat third-quarter profit forecasts on Wednesday but gave no update on a regulatory block in China, the world’s largest gaming market, that has damaged its core business. China has imposed tougher rules on the gaming industry, including a halt to new game approvals as part of a regulatory overhaul and calls to tackle addiction among young people. Tencent, China’s biggest gaming and social media group, said profit in the July-September quarter rose by 30 percent to 23.3 billion yuan, beating an average analyst estimate of 19.32 billion yuan, thanks largely to investment gains. Although Tencent’s revenue rose by 24 percent to 80.6 billion yuan ($11.6 billion), this represented its slowest quarterly growth in more than three years. Analysts said Tencent’s mobile gaming growth was better than expected, but the fact that its president Martin Lau had no news
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BIDU
Earnings
- 2/28/24 - Beat
BIDU
Sec Filings
- 4/12/24 - Form 6-K
- 4/2/24 - Form 144
- 3/18/24 - Form 6-K
- BIDU's page on the SEC website