Sources: FactSet, Tullett PrebonĬommodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Sources: FactSet, Tullett PrebonĬurrencies: Currency quotes are updated in real-time. Sources: FactSet, Dow Jonesīonds: Bond quotes are updated in real-time. Sources: FactSet, Dow JonesĮTF Movers: Includes ETFs & ETNs with volume of at least 50,000. Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. Overview page represent trading in all U.S. Indexes: Index quotes may be real-time or delayed as per exchange requirements refer to time stamps for information on any delays. Copyright 2019© FactSet Research Systems Inc. Fundamental company data and analyst estimates provided by FactSet. International stock quotes are delayed as per exchange requirements. stock quotes reflect trades reported through Nasdaq only comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Current Refinitiv consensus target price sits at $552.36 (HKD), above the last price seen on Wednesday at $541.50, although this number itself had been gradually shifted up as the Covid-19 pandemic lingers.Stocks: Real-time U.S. Meanwhile, Tencent as a social media company also has the widely popular WeChat app in its arsenal, among others, that represent significant monetisation opportunities which is why we continue to see further upsides expected from the market. The increase in engagement across a wider pool of consumers through the pandemic thus far is also expected to have built a stronger client base. This comes across with little surprise as the stay-home trend continues amid localised Covid-19 outbreaks. Honour of Kings, Brawl Stars are just some of the popular titles in Tencent’s library of online game offerings, the latter only accounting for a small part of Q2 performance but had nevertheless been touted as a high revenue grossing, seeing the surge in popularity at initial offering on China’s Apple store.Īccording to CPC-CNG estimates, as reported by Bloomberg, the Chinese online game industry sales had grown by 9% in H1 of 2019, which marks an acceleration from 5% in 2018. This consists primarily of online and mobile games across both internet and mobile platforms.
Tencent draws the majority off its revenue out of mainland China, half of which is stemming from the value-added services segment.
Likewise, with the rise in market capitalisation, Tencent had surpassed that of Facebook, part of the US Fang stocks, which totalled $656.2 billion in market capitalisation as of Tuesday’s close. Ahead of Q2 earnings results, Tencent had seen 8.6% rise as of Wednesday, 29 July, sustaining the bullish momentum for the prices. This had marked the biggest quarterly jump for prices seen since Q3 2013. The online services company had risen 44.2% on a year-to-date (YTD) basis and clocked 31.1% jump for prices in Q2 alone. Tencent shares had seen an impressive surge since the second quarter (Q2) of 2020 riding on the latest Covid-19 influence on consumer behaviours that looks to boost revenue performance. Investors bullish on Tencent with gaming revenue
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