Fitch Ratings downgraded on Wednesday the ratings of Alibaba Group Holding Ltd and Tencent Holdings Ltd. to 'A' from 'A+' after China's sovereign rating was reduced to 'A' on April 3. Tencent Music Entertainment, a subsidiary of Tencent, also saw its rating drop to 'A-' from 'A'.Fitch explained that...
Ubisoft Entertainment SA announced on Thursday that it is creating a subsidiary dedicated to its gaming brands Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six, with the Chinese tech giant Tencent Holdings Ltd. investing €1.16 billion for a minority stake in the new subsidiary."With the...
Tencent Holdings Ltd. announced on Wednesday that its total revenues in the fourth quarter of fiscal 2024 stood at $24 billion (172.4 billion yuan), up 11% year over year. In the three months ending December 31, 2024, on a yearly basis, non-IFRS operating profit and diluted earnings per share...
Investors will be looking at a mixed array of corporate financial reports in the upcoming week, starting with XPeng, Tencent Music and Xiaomi earnings on Tuesday.Tencent will report its fourth-quarter earnings on Wednesday. The company's revenue in the third quarter of fiscal 2024 stood at 167.2...
Tencent Holdings Ltd. announced on Tuesday that it is launching the CarbonX Program 2.0, the second phase of its initiative to support technologies needed for decarbonization, which entails expanding the initiative's scope beyond China's borders.The company stated that it plans to invest tens of...
Tencent Holdings Ltd. reported on Wednesday that its revenue in the third quarter of fiscal 2024 stood at 167.2 billion yuan (around 23.2$ billion), advancing by 8% year-on-year, in line with the analysts' expectations.The company's profit attributable to equity holders in the three months ending...
Ubisoft Entertainment SA announced on Monday it was aware of reports that Tencent Holdings Ltd. and the Guillemot family, the former's founders, are discussing a potential acquisition deal.The company said in a statement that it "regularly reviews all its strategic options in the interest of its...
The shares of Ubisoft Entertainment SA popped on Friday after the most recent report involving Tencent Holdings Ltd. and the Guillemot family.Earlier, Bloomberg reported that Tencent and Ubisoft's founders, the Guillemot family, were discussing the potential acquisition of the French video game...
Tencent Holdings Ltd. announced on Monday that it bought back 2.58 million of its shares.In the disclosure form, the company revealed it repurchased the aforementioned number of its shares at a price of between 385.4 Hong Kong dollars and 391.8 Hong Kong dollars, with the total amounting to 1...
Alibaba Group Holding Ltd. is planning to integrate a payment tool made by Tencent Holdings Ltd. into its shopping platforms, the Wall Street Journal reported on Wednesday citing a statement sent by Alibaba to merchants. According to a person familiar with the matter, users will be able to pay for...
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