Tencent Message Board - Msg: 32155780

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Technology Stocks : Tencent

TCEHY 80.25

-0.5%

Nov 4 3:59 PM EST

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From: JakeStraw	5/15/2019 11:56:28 AM
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Tencent Brings a Hidden Giant Into View bloomberg.com The fintech and business services unit looks like the earnings driver that shareholders have been waiting for. Tencent Holdings Ltd.’s top line looked weak in the first quarter and its bottom line looked great. Gains on investments were the difference. Yet the big revelation from the Chinese internet company’s earnings announcement late Wednesday is the size of its hidden giant: fintech and business services. For the first time, Tencent started breaking out revenue and costs for the division, which includes payments, wealth management, cloud services and smart retail. It accounted for 25% of revenue for the March quarter, surpassing every other division except for online games, which contributed 33%. What’s more, the unit’s growth outpaced all other segments while margins expanded.

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