Tencent owed its gains to people like Huang Sihao who, for almost a month, was glued to his smartphone before going back to work. — Reuters
Tencent Holdings Ltd picked up millions of new gamers during the global coronavirus outbreak – yet that surge in mobile play may be slowing as the world’s No. 2 economy goes back to work.
The quest for entertainment among millions confined to home translated into a big boost for Tencent’s marquee games, Honor Of Kings and Peacekeeper Elite. That helped the company gain US$25bil (RM107.56bil) of market value up to March 5, before a global market rout torpedoed the stock along with the rest of the market. WeChat operator Tencent is now expected to report its fastest pace of revenue growth since 2018 when it unveils quarterly results on Wednesday, and investors will look to executives for reassurances it can sustain that pace of topline expansion.
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