tencent hv 2020

Gaming boosted overall revenue while Tencent saw some weakness in its advertising business. Online game revenue, one of Tencent's most important businesses, grew 40% year on year to 38.29 billion yuan. It has a stake in the two most popular Battle Royale-style games: Fortnite and PlayerUnknown's Battlegrounds (PubG).It owns a 40% stake in Fortnite studio, Epic games, and has the license to PlayerUnknown's Battlegrounds (PubG) - although it failed in its own battle to get the game approved for distribution in China.It also owns the entire League of Legends studio, Riot Games.Tencent has recently completed a deal giving it a 10% stake in Universal Music. Tencent Announces 2020 Second Quarter and Interim Results. Why not be the first to post one? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. James Mitchell, chief strategy officer at Tencent, said the U.S. represents less than 2% of the company's global revenue and less than 1% of total advertising revenue. Data is a real-time snapshot *Data is delayed at least 15 minutes. "While online games accounted for around one-third of revenue, Tencent has some other fast-growing businesses too. These executive orders address a growing concern from the US executive branch about the security and privacy of TikTok under its current Chinese ownership, coming alongside reports that Microsoft has been in talks to acquire the company.While either executive order would be voided were the respective company to be acquired within the 45 day period, there is no known similar push currently for a company to acquire Tencent.Though the wording specifies transactions "related to WeChat," it is possible that this order could impact a number of games and game companies that Tencent either owns or holds stakes in, potentially including fully-owned subsidiary Riot Games or companies it owns stakes of varying sizes in, such as Epic Games, Activision-Blizzard, Supercell, Grinding Gear Games, Netmarble, Glu Mobile, Kakao, and numerous others.However, it is extremely likely that the order will meet a challenge in court.Tencent says Switch fitness game frequently imported during the pandemic will see a formal release early next monthVoodoo says Tencent's support will help it expand beyond hypercasual and into casual gamesThere are no comments on this article yet. PC games revenue fell over 6% year-on-year. Tencent-Led Consortium Announces Closing of Investment in … Based on our forecasts, a long-term increase is expected, the "TCEHY" stock price prognosis for 2025-08-13 is 80.309 USD. Addressing his party convention, the president lashed his opponent as "the destroyer of American greatness".© 2020 BBC. "Just as with TikTok, the concern is that the parent company is Chinese and thus it may be argued that they are indeed subject to the Chinese Intelligence Act," he said.Tencent has so far issued the briefest of responses to the news from the US: "We are reviewing the executive order to get a full understanding," it said.China social media: WeChat and the Surveillance StateContinuing our fathers’ fight for racial justice. "This data collection threatens to allow the Chinese Communist Party access to Americans' personal and proprietary information," it claims.Tencent's chief executive and co-founder Ma Huateng, known as Pony Ma, is widely assumed to support the Communist Party. Original Story, August 6, 2020: US President Donald Trump has signed an executive order that would prohibit transactions between Americans and Tencent, taking effect on September 20, 2020… Tencent's advertising business, which generated 19% of its revenue last quarter, sells ads across WeChat, the older QQ messaging platform, its mobile ad network, Tencent Video, and other apps.