Chinese Internet company Tencent reported that in the first quarter of this year, its net profit grew by 17% from the same period a year earlier to 27.21 billion yuan. Experts had expected less significant profit growth - up to 19.9 billion yuan. At the same time, Tencent's revenue had not reached the economists forecast of 88.41 billion yuan, amounting to 85.47 billion yuan. Its annual growth was at 16%. The instant messaging service QQ increased the number of active users by 2.2% to 823 million people. At the end of the quarter, Weixin and WeChat systems were used by 1 billion 112 million people, their number increased by 6.9% over the year. The quarterly report of the new Financial Technologies and Business Services segment showed revenue growth of 44% to 21.8 billion yuan. The company increased revenue from online advertising by 25% and reduced revenue from online games by 1%.
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 ...