Tencent's Next Big Gaming Bets Draw On Viral Phenom ‘Palworld' [BNN Bloomberg (Canada)]
NetEase, Inc. - American Depositary Shares, each representing 5 ordinary shares (NTES)
Last netease, inc. - american depositary shares, each representing 5 ordinary shares earnings: 2/26 06:00 pm
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Source: BNN Bloomberg
The teams at Timi and Lightspeed are both building games in the style of genre-blender Palworld, replete with pet companions and stylized violence, according to people familiar with the matter. The studios operate autonomously, but both seem to have landed on that new formula to seek out another Honor of Kings that can power Tencent's next wave of growth. Tencent is betting on the China release of Nexon Co.'s Dungeon & Fighter Mobile in coming months to fire up growth in the near term. But developing in-house hits is generally more profitable than adapting external content and could drive a flagging business that reported a 2% decline in games revenue in the holiday quarter. The world's biggest games publisher badly needs a mega-hit. It faces a price war in its cloud business and a stagnating software selection at home, where rival NetEase Inc.'s Eggy Party has cornered the market for a new genre of party games. To hasten a rebound, Tencent is now incubating multiple, competing
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NTES
Earnings
- 2/29/24 - Miss
NTES
Sec Filings
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/25/24 - Form 20-F
- NTES's page on the SEC website