profits plunge amid China Covid lockdowns, regulation

income plunge amid China Covid lockdowns, regulation

Signage for Tencent Holdings atop an workplace constructing in Shanghai, China, on March 22, 2022. China’s Tencent reported on Wednesday its quarterly revenue halved from a 12 months in the past and revenues stagnated, blaming cuts in promoting spending by client, e-commerce and journey companies for its worst efficiency because it went public in 2004. […]

Shopee, Garena post strong revenue

Shopee, Garena submit robust income

Singapore, Singapore – 2021: A big Shopee emblem on the entrance to the e-commerce platform’s headquarters at Science Park. (Actual images date unknown resulting from incorrect digital camera settings) Kokkai | Istock Unreleased | Getty Photographs Shares of Southeast Asia’s e-commerce and gaming agency Sea Group popped after its first-quarter income beat analysts’ expectations on […]

Slowest quarterly revenue growth on record

Slowest quarterly income development on report

Chinese language e-commerce large posted its slowest quarterly income development on report for the primary three months of the yr, as Covid-19 lockdowns on the planet’s second-largest economic system weighed on shopper spending. beat estimates on income however missed expectations on revenue. This is how JD did within the first quarter of 2022, […]

China's Tencent exploring a financial holding company for WeChat Pay

China’s Tencent exploring a monetary holding firm for WeChat Pay

A picture of WeChat Pay in motion. Zhang Peng | LightRocket | Getty Photos Chinese language tech large Tencent is exploring whether or not regulators would require it to create a monetary holding firm to accommodate is fintech enterprise, a high govt mentioned on Wednesday. The feedback come after Bloomberg reported final week that Chinese […]

Chinese giant reports slowest revenue growth ever

Chinese language big reviews slowest income progress ever

Tencent’s twin-skyscrapers at Shenzhen Bay Begin Up Plaza in Nanshan enterprise district. Nikada | Getty Photographs Tencent on Wednesday reported its slowest quarterly income progress on report for the fourth quarter of 2021, because the Chinese language expertise big continues to really feel the influence of Beijing’s regulatory tightening on the home expertise sector. Nonetheless, […] tanks after Tencent says it will give most of its stake to... tanks after Tencent says it will give most of its stake to… plummeted Thursday after Tencent introduced it is going to be giving most of its shares within the Chinese language e-commerce big away to its shareholders. Tencent stated it is going to declare a one-time dividend during which it is going to distribute greater than 457 million Class A odd shares of to shareholders, […]

Novavax, Tesla, Nikola and others

Novavax, Tesla, Nikola and others

Take a look at the businesses making headlines earlier than the bell: Novavax (NVAX) – Novavax jumped 3.4% within the premarket after the drugmaker mentioned a two-dose remedy of its Covid-19 vaccine demonstrated robust immune responses towards the omicron variant. It did add that the response to omicron was decrease than that towards the unique […]