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The world's largest Chinese investment Internet company, Tencent Holdings, at the end of the fourth quarter of last year, reported a decrease in net profit by 32% to 14 billion 230 million yuan. Experts had expected a decline to 17 billion 550 million yuan. The main reasons for such a sharp drop in profits were a reduction in revenue as a result of the moratorium imposed on the approval of new games in China, and increased competition. At the same time, revenue was higher than experts' forecasts, having increased by 28% to 84 billion 900 million dollars. At the same time, the company noted that the growth rate of revenue slowed down 2 times compared to a year ago. The growth in the price of services Tencent increased over the year by 43% mainly due to higher costs for the creation of the content. The company recorded a quarterly increase in revenue from social networks by 25%, from online advertising - by 38%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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