Tag: $Tencent Holdings

Ubisoft shares continued higher Monday after Bloomberg reported Friday that Chinese internet giant Tencent Holdings and Ubisoft founders the Guillemot family were considering a potential buyout of the company.

Tencent beat analyst estimates for revenue and profit in the first quarter, thanks to slightly better sales in the Chinese tech giants core gaming business and improved profitability at its advertising and business services division.

China’s Tencent Holdings posted a 7% rise in fourth-quarter revenue on Wednesday, trailing analysts’ expectations, as China’s economic slowdown takes a toll, and said it was expecting to at least double its share buybacks this year.

China’s top gaming regulator said it will “carefully study” the concerns of all stakeholders on draft rules aimed at curbing excessive online gaming and spending.

Shares of NetEase Inc. and Tencent Holdings Inc. fell sharply on Friday after Chinese authorities announced draft rules to crack down on spending and rewards in online gaming.