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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-10-03 am EDT
263.80 HKD   -0.98%
04:08aSuing Grey And Black Industry For Unfair Competition, Tencent Awarded 5 Million Yuan
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Tencent reports its first-ever revenue drop as regulations and COVID-19 bite

08/17/2022 | 04:37am EDT
FILE PHOTO: Tencent logo displayed at a conference

HONG KONG (Reuters) - China's Tencent Holdings reported on Wednesday its first ever quarterly sales fall, hurt by a lack of game approvals and regulations that limit playing time, as well as COVID-19 lockdowns and a weak economy that squeezed ad sales.

Tencent, the world's largest video game company and the operator of the WeChat messaging platform, said revenue fell 3% to 134.034 billion yuan ($19.78 billion) for the three months ended June 30.

Analysts on an average expected 134.6 billion yuan, according to Refinitiv Eikon data.

($1 = 6.7756 Chinese yuan renminbi)

(Reporting by Josh Ye; editing by Jason Neely)

By Josh Ye


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
TENCENT HOLDINGS LIMITED -0.98% 263.8 Delayed Quote.-41.68%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.40% 7.09994 Delayed Quote.12.14%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2022 568 B 79 824 M 79 824 M
Net income 2022 101 B 14 207 M 14 207 M
Net cash 2022 76 897 M 10 809 M 10 809 M
P/E ratio 2022 22,5x
Yield 2022 0,42%
Capitalization 2 253 B 317 B 317 B
EV / Sales 2022 3,83x
EV / Sales 2023 3,23x
Nbr of Employees 110 715
Free-Float 63,2%
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Mean consensus BUY
Number of Analysts 55
Last Close Price 239,07 CNY
Average target price 381,89 CNY
Spread / Average Target 59,7%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau Chief Strategy & Investment Officer
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
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