28 days ago • Posted by William Ramstein
Tencent takes a hit, but can recover through cloud services
Some say Tencent is a defensive play within the tech sector since it does not burn cash for its core business like an Alibaba or Meituan does. Tencent is about to report earnings in Hong Kong. Recently Tencent shed off about $200B in value but is expecting to deliver 24% revenue growth for the March quarter due to strong payments and cloud services recovery.
Source: Bloomberg / Yahoo