Tencent Shares Climb Most in Months as Blockbuster Debuts Early [BNN Bloomberg (Canada)]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: BNN Bloomberg
Tencent set a May 21 start date for Nexon Co.'s Dungeon & Fighter Mobile for China — a marquee title expected to refresh an ageing pipeline, draw in new users and reaffirm Beijing's easing stance for the world's largest gaming market. China's social media leader is seeking its next big hit after years of regulatory tightening that cut play times and slowed development. DnF Mobile isn't a sure bet — it must contend with rival titles from ByteDance Ltd. and Genshin Impact studio Mihoyo — but investors expect the well-known franchise to eventually become a decent money-spinner. “We expect gaming revenue to turn around in 2Q24,” Jefferies analyst Thomas Chong wrote in a note, predicting that the battle-oriented role-playing-game may generate 6 billion yuan ($828 million) of revenue annually. “Apart from DnF, Tencent has a number of emerging franchises to drive future growth,” he said. Nexon's stock jumped by the most in over two months in Tokyo. Tencent's shares rose as much as 5.3
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