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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD

(0700)
  Report  
End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 04/18
391.6 HKD   -1.01%
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EA's 'Apex Legends' tops 'Fortnite' record with 25 million signups in a week

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02/12/2019 | 10:24am EDT
The Electronic Arts Inc., logo is displayed on a screen during a PlayStation 4 Pro launch event in New York

(Reuters) - Shares of Electronic Arts Inc jumped 8.5 percent on Tuesday after the videogame maker said it signed up 25 million players for its new battle royale game "Apex Legends" in a week, setting it up for a showdown with Epic Games' wildly popular "Fortnite".

EA is hoping to reproduce the success of "Fortnite", which blends the "The Hunger Games" movie trilogy and "Minecraft" video game and has developed a huge following with teenagers and older gamers.

EA owns iconic games such as "FIFA", "Need for Speed" and "Battlefield" and launched "Apex Legends" last week in efforts to attract new audiences and take advantage of the popularity of the battle royale format, where dozens of online players battle each other to the death.

"Apex Legends" signed up 10 million players within three days of its launch, EA said last week, a milestone that Fortnite took two weeks to reach. EA disclosed the new number on Monday on Twitter.

While the initial numbers mark a victory for EA, the company still has a long way to go to match Fortnite's more than 200 million subscribers.

As of Friday, "Apex Legends" was the most viewed on gaming live-streaming network Twitch.

"(Electronic Arts') topsy-turvey CY19 took a decidedly positive turn last Friday when they announced 'Apex Legends'," Bernstein analysts said, raising their price target on the stock by $29 (£23) to $120 - well above the median Wall Street target of $95.

"Apex Legends' stunning success should also greatly reduce the frustration with management sometimes expressed by investors," the analysts said, adding that "Fortnite" took three months to reach 30 million users.

Analysts from Baird said that the update should provide investors with better visibility that "Apex Legends" could be a "meaningful hit" for EA over the coming year.

The news comes almost a week after the company lowered its yearly revenue projections following weak sales of its "Battlefield V" title, that had sent its stock plunging 18 percent.

After a 9.6 percent surge on intraday on Monday, the stock ended slightly lower at $97.24.

Activision Blizzard was marginally up ahead of its quarterly results, which are due after the bell.

(Reporting by Akanksha Rana in Bengaluru; Editing by Saumyadeb Chakrabarty)

By Akanksha Rana

Stocks treated in this article : Tencent Holdings Ltd, Activision Blizzard, Electronic Arts
Stocks mentioned in the article
ChangeLast1st jan.
ACTIVISION BLIZZARD 0.73% 45.31 Delayed Quote.-2.71%
ELECTRONIC ARTS 1.29% 93.14 Delayed Quote.18.03%
TENCENT HOLDINGS LTD -1.01% 391.6 End-of-day quote.24.40%
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Financials (CNY)
Sales 2019 403 B
EBIT 2019 113 B
Net income 2019 88 204 M
Finance 2019 82 236 M
Yield 2019 0,30%
P/E ratio 2019 36,06
P/E ratio 2020 28,31
EV / Sales 2019 7,68x
EV / Sales 2020 5,88x
Capitalization 3 178 B
Chart TENCENT HOLDINGS LTD
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Technical analysis trends TENCENT HOLDINGS LTD
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 356  CNY
Spread / Average Target 6,4%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
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