Tag Archives: Gaming
HONG KONG (Reuters) – Tencent Holdings (0700.HK) said on Wednesday its third-quarter net profit rose 30 percent, beating estimates, as investment gains offset a weak performance in the Chinese company’s core gaming business.
FILE PHOTO: Tencent Holdings Chairman and CEO Pony Ma (C) visits the Tencent booth following the opening ceremony of the fifth World Internet Conference (WIC) in Wuzhen, Zhejiang province, China November 7, 2018. REUTERS/Stringer/File Photo
Net profit at China’s biggest gaming and social media group in the July-September quarter rose to 23.3 billion yuan, compared with an average estimate of 19.32 billion yuan, according to 15 analysts polled by to I/B/E/S data from Refinitiv.
Revenue rose 24 percent to 80.6 billion yuan ($ 11.59 billion), the slowest quarterly growth in more than three years, in-line with estimates.
China, the world’s biggest gaming market, has been imposing tougher rules on the industry, including a halt to new game approvals since March and calls to tackle young people’s gaming addictions.
This contributed to Tencent reporting its first quarterly profit fall in more than a decade in its April-June quarter. The company also cut its gaming marketing budget.
Tencent shares, which more than doubled in 2017, have dropped by about a third so far this year, wiping about $ 165 billion in value from the group’s market value.
In the third quarter, Tencent benefited mainly from a more-than-doubling in net gains from its investment activities, including the initial public offering of online food delivery to ticketing services company Meituan Dianping.
Douglas Morton, Head of Research, Asia at Northern Trust Capital Markets, said the result beat was a positive surprise even if not counting the investment income.
“What the real surprise is or the real comfort for the market will be that the mobile gaming data which beat expectations,” he said.
Tencent said smartphone games revenues grew 7 percent year-on-year and 11 percent quarter-on-quarter to 19.5 billion yuan, mainly due to contributions from new games. Despite the new approval freeze, Tencent already had 15 approvals and released 10 titles in the quarter, it said in the filing.
PC games revenue dropped 15 percent year-on-year due to continued user migration to mobile games and high base in the same quarter a year ago.
Advertising revenue, which accounts for 20 percent of the company’s total revenue, rose 47 percent, supported by a 61 percent jump in social and other advertising.
Tencent said its cloud services revenues more than doubled year-on-year in the quarter while the number of paying cloud customers grew at a triple-digit percentage rate year-on-year. Cloud revenues for the first three quarters of the year exceeded 6 billion yuan, it said.
Monthly active user number of WeChat, the most popular social network in China, rose incrementally to 1.08 billion.
($ 1 = 6.9536 Chinese yuan)
Reporting by Sijia Jiang; Editing by Muralikumar Anantharaman and Jane Merriman
I’ve put time, effort and money into my Fortnite: Battle Royale account, linked to my PS4. I’ve got the John Wick skin with the Glider to match. I’ve got Raven, Lightshow, Super Striker and a few more premium skins. I’ve got a fully-levelled Carbide and I’ll have The Visitor as soon as some people land in Snobby Shores so I can kill them. I have a little home in the game, a locker where all my past achievements and indulgences sit in a nice little stack. When season 5 starts, however, I’m packing it in. I’ll start a new account on my Xbox One and go from there. I’ll do the same for all other games going forward.
Last week, Sony put its foot in it and has, after some apparent consideration, decided to leave it there. Epic Games released Fortnite: Battle Royale on Switch to expected fanfare, giving people who want to play the game on the go a much more accurate option than the excellent if lacking mobile port. The dream was clear: I could play Fortnite on PS4 at home, and then use my Switch when I was on the road or just out of the house. But that’s not how Sony saw its dream, and it’s locked my account out of ever playing on Switch. The company hasn’t exactly been supportive of crossplay in the past, but this is the first time it’s caused it any serious trouble.
With this looking hostility to crossplay lurking in the background, it leaves me wondering if I’ll get left behind in other games if I start my account on PS4 if and when a Switch port appears. The Switch won’t get every major game, but it will get some, and it doesn’t appear that Sony has any intention of letting its platform play nice any time soon–it’s also just easier to keep these things all in one place. The Xbox One works just fine, thank you very much, and I may as well just play here: watch the free market at work.
Am I certain to run into crossplay or cross-progression problems if I’m playing a game on PS4? No, I’m not. Crossplay is a relatively new phenomenon in the industry and not all that widespread. But Fortnite is instructive about how things can go wrong even if you didn’t necessarily expect them to: when I first started playing I just booted it up on PS4 like I usually do, and it was fun when I found I could move my progression to mobile or PC. But I had grown accustomed to his, and so when I wanted to play on Switch I was pretty annoyed to find out I’d have to start my Battle Pass all the way over. It’s not the worst problem, but it’s one place where the Xbox One now has a clear, inarguable advantage. As a multiplatform player with the choice to migrate it feels like the only natural move.
Going forward, it just seems silly to invest time into levelling an account on Sony if crossplay might be in the cards sometime in the future, and I have to imagine some other multiplatform players are feeling the same way.
Right now, this isn’t such a bee in Sony’s bonnet. I already have a PS4 Pro, and so the company loses out on a small amount of PSN percentages if I buy my V-Bucks on Xbox Live. But that’s now. If this continues to be a problem, this could be the reason that people choose to buy the next Xbox over the next PlayStation in what appears to be an increasingly crossplay friendly future. And that’s not just a bee in Sony’s bonnet, it’s a hornet in its hat.
He was first diagnosed with bowel cancer in 2014, according to CNN, and a year later announced publicly that the cancer was terminal. Three weeks ago, he announced on Reddit that he was retiring from the critic side of his business, writing, “I’m retiring as a critic to spend whats left of my life sharing my love of gaming with my wife and all of you via co-op videos and streams.”
Bain’s wife, Gemma Bain, announced the YouTuber’s death on Twitter, saying, “Rest in Peace my Dearest Love John @Totalbiscuit Bain July 8, 1984 – May 24, 2018,” along with the poem “Love Constant Beyond Death” by Francisco de Quevedo.
Bain had over 2 million subscribers on his TotalBiscuit YouTube channel. Fans also left messages of support on Twitter and on his Reddit post announcing that he would no longer do game reviews.
If you or your kids are avid gamers, here’s some good news: All that strategising may have a beneficial impact on school results. Whether regular Facebook use is a drag on one’s English test scores — that’s another question.
A study conducted by Alberto Posso, a professor at Australia’s RMIT University, found that teenagers who played online video games regularly were often able to improve their school scores.
Students who were daily social media users, however, tended to under perform in maths, reading and science. “The results suggest that a student who uses online social networks on a daily basis will also obtain a grade in math that is 20 points lower than a student who never uses this type of social media,” Posso said in the report. Read more…