About $127 billion of value was wiped off of Tencent in 2018. Now, the Chinese internet giant is beginning to see a recovery thanks to a revival of gaming approvals in China.
div > div.group > p:first-child"> Over $127 billion was wiped off the value of its shares as Chinese regulators clamped down on the video gaming industry, hitting one of the company's main businesses. This year, however, is looking up for Asia's most valuable technology firm.
Any publisher that wants to release a game in China needs to get the green light from authorities. And, any company that wants to monetize a game, for example by offering in-app purchases, also needs approval. Online games accounts for over 30 percent of Tencent's total revenues. Not only were games not being approved, but the sale of some titles was also banned. Tencent was forced to stop selling blockbuster hit"Monster Hunter: World" in August because its content did not meet regulatory requirements.
In a note released Thursday, analysts at Jefferies said they expect the game to have raked in 40 million to 50 million yuan in revenues and is on track to beat the investment bank's current estimate that it will gross 600 million yuan per month in the first quarter of launch. Jefferies said in its note that"Perfect World" combined with"Honor of Kings" will lead to"decent sequential recovery" for mobile game revenue in the first quarter of 2019, but year-on-year growth could be kept"under check" because of a tough comparison with the first quarter of 2018.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Jerome Corsi retracts and apologizes for 2018 story promoting Seth Rich conspiracy theoryThe conservative author apologized for falsely alleging that the Democratic National Committee staffer, who was killed in 2016, had leaked thousands of DNC emails to WikiLeaks.
Baca lebih lajut »
North Carolina schedules new election for last undecided 2018 raceCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Baca lebih lajut »
Construction spending sags in 2018 — but falling interest rates lift odds of bounce backHigh home prices, rising mortgage rates and shortages of land and skilled workers took a toll on builders in 2018. The construction industry posted its slowest growth in seven years.
Baca lebih lajut »
Germany's Volkswagen pays employees 4,750 euros bonus for 2018German carmaker Volkswagen is to pay around 100,000 employees on collective wage...
Baca lebih lajut »
The world's top 100 most polluted cities in 2018CNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Baca lebih lajut »
New-home sales tick up in December as a tough 2018 limps to a closeSales of newly-constructed homes were higher in December, but for the full year were barely above 2017’s selling pace.
Baca lebih lajut »
California lawmakers accepted $810,000 in gifts and overseas trips in 2018Annual economic disclosure reports shed light on how state legislators can augment their annual $110,459 salaries with gifts that allow them to travel the world and eat at expensive restaurants, often in the company of corporate executives seeking to influence their decisions.
Baca lebih lajut »