Tim Robberts/DigitalVision via Getty Images Tencent Holdings Limited (OTCPK:TCEHY) is a promising growth investment in FY 2024 as the company returned to double digit top line growth in FY 2023 and the online advertising business is seeing an acceleration of growth as well. Although U.S.-based investors may be hesitant to consider Tencent as an investment due to operational focus on China, the gaming and social media company is extremely profitable on a free cash flow basis. Shares are also very attractivel ...

Nikada Introduction Per my June 2023 article, Tencent (OTCPK:TCEHY) is too big to be ignored. My thesis is that they are using AI to significantly improve their online advertising segment. At the time of this writing, RMB 1,000 is equivalent to about $138. The Numbers The First Superapp book by Kevin Shimota explains how Tencent is advantaged with ad measurement given their closed system. Purchases are often made in mini apps inside Tencent’s ecosystem: Marketing teams love closed-loop systems. They ...

Michael Vi Tencent (OTCPK:TCEHY) shares traded up 1.5-2.0% after the Chinese tech giant reported Q4 and FY 2023 results. Although revenue came in somewhat lower than expected, profits surged 23% YoY, comfortably beating consensus. In addition, Tencent surprised markets positively by revealing a $12.8 billion stock buyback program (expected to be up 100% YoY), as well as a 40% jump in dividend payments. Personally, I see the ramp up in distributions as a major bull signal, as I have previously voiced neg ...

Tencent Holdings Ltd. (OTCPK:TCTZF) Q4 2023 Earnings Conference Call March 20, 2024 8:00 AM ET Company Participants Pony Ma - Chairman, Chief Executive Officer Martin Lau - President James Mitchell - Chief Strategy Officer John Lo - Chief Financial Officer Wendy Huang - Investor Relations Conference Call Participants Kenneth Fong - UBS William Packer - Exane BNP Alicia Yap - Citigroup Ronald Keung - Goldman Sachs Robin Zhu - Bernstein Charlene Liu - HSBC Alex Yao - JP Morgan James Lee - Mizuho Operator Good ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Tencent is one of the world's leading gaming firms and developer of China's ubiquitous messaging and services app WeChat. Chinese internet giant Tencent on Wednesday posted its lowest annual profit since 2019, despite slight improvements recently in China's economy and a more lenient attitude taken by regulators towards the tech ...

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Group 1 - Tencent's subsidiary Riot Games is laying off 530 employees globally to focus on its main offerings due to underperformance of some projects [1][2] - The layoffs will primarily impact employees involved in smaller projects, including the Legends of Runeterra team, which has not met performance expectations [2] - Riot Forge, the division responsible for outsourcing smaller projects, will also be closed, allowing Riot Games to concentrate on multiplayer experiences like League of Legends, Valorant, Teamfight Tactics, and Wild Rift [2] Group 2 - Riot Games CEO Dylan Jadeja stated that unsustainable cost growth and lack of room for experimentation are putting the core business at risk [1] - Following the announcement of layoffs, TCHEY stock has decreased by 3.1% as of Tuesday morning [2]

Core Points - Riot Games, the developer of "League of Legends," announced layoffs of 530 employees, representing 11% of its workforce, as part of a strategy to create focus and ensure a sustainable future [2][3] - The company acknowledged that it had expanded its investments too broadly and needed to refocus on its core gaming operations [2] - The layoffs are part of a broader trend in the tech industry, which has seen significant job cuts in recent months across various companies [3] Company Strategy - The layoffs are intended to streamline operations and enhance focus on game development, as the company admitted to lacking a sharp focus and having too many ongoing projects [2] - Riot Games plans to make changes to its "Legends of Runeterra" game to ensure sustainability and will reduce the team working on it, while also discontinuing "Riot Forge" after the release of "Bandle Tale" [4] Employee Support - The company will provide laid-off employees with a minimum of six months' salary, cash bonuses, and additional benefits, including job placement services and counseling [3] - Employees on work visas will receive visa support, and those laid off can request a laptop if needed [3]

Ma ''Pony'' Huateng, chairman and chief executive officer of Tencent Holdings Ltd., speaks during the Guangdong-Hong Kong-Macao Greater Bay Area Forum in Hong Kong, China, on Tuesday, June 20, 2017. In an unusual move, Ma has chosen to convene a summit of government academics and business chieftains in Hong Kong days before the 20th anniversary of its return to China.Tencent's Riot Games unit said Monday it's eliminating 11% of its workforce, or about 530 jobs, and scaling back on its division that publishe ...

Videogame maker Riot Games on Monday said it would lay off around 530 employees globally, or around 11% of its total staff, as it tries to narrow its focus after making what executives said were several years of “big bets” and expansion. In a letter to employees, the company — owned by Chinese tech giant Tencent Holdings 700, -3.32% and known for “League of Legends” — also said it was “sunsetting” its Riot Forge publishing unit and would cut the size of its “Legends of Runeterra” team.The layoffs will occur ...