Goldman Sachs sees recovery in Tencent’s games revenue but ad growth to remain sluggish

//Goldman Sachs sees recovery in Tencent’s games revenue but ad growth to remain sluggish

Goldman Sachs sees recovery in Tencent’s games revenue but ad growth to remain sluggish

Chinese tech giant Tencent Holdings should see its games growth recover in the second quarter thanks to multiple new titles being released since the resumption of license approvals, but advertising revenue growth will be sluggish due to intense competition, according to a report from Goldman Sachs.The investment bank maintains a “Buy” rating on the stock and expects mobile gaming revenue growth to recover to 23 per cent year on year in the second quarter. In the first quarter, Tencent reported…

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By | 2019-07-29T06:28:38+00:00 July 29th, 2019|Technology|Comments Off on Goldman Sachs sees recovery in Tencent’s games revenue but ad growth to remain sluggish