Tencent Has Outgrown China Now Comes The Next Phase of Growth
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Following the release of its fourth quarter earnings, Tencent is the first Chinese company to achieve a market capitalisation of over billion, displacing Facebook as fifth most valuable global company. This growth has been highlighted by the year-on-year (YoY) increase in revenue from billion in 2016 to billion in 2017. However, Tencent missed analyst revenue estimates for 2017. This combined with the concerns for rising ecosystem investments, rising overall costs, and a slowdown in monthly active user (MAU) growth and biggest shareholder Naspers selling off of its stake in March 2018, paints a mixed picture.
Companies and brands mentioned in this report: Alibaba, Amazon, Baidu, Facebook, Gaana, Google, iMessage, Naspers, Netflix, QQ, Spotify, Tencent, WeChat