TCEHY - Why Tencent Holdings Was Rallying Today
2024-05-14 15:34:38 ET
Shares of Chinese tech giant Tencent Holdings (OTC: TCEHY) rallied about 5% on Tuesday as of 1:52 p.m. ET after the company released its earnings results for the first quarter of 2024.
Tencent has various businesses across video games, online advertising and social media, video and music subscriptions, fintech services, and cloud software. But while video games get the lion's share of attention and were slightly down, virtually all of Tencent's other segments posted solid growth.
And even though games revenue was down, there was also positive news even in that important segment.
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Why Tencent Holdings Was Rallying Today