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Tencent Q4 profit falls 35% on investment costs, revenues up 28%

2019-03-21 12:28:00| Telecompaper Headlines

(Telecompaper) Tencent reported revenues of CNY 84.9 billion for the fourth quarter, up 28 percent from a year earlier as growth in social networks, payments and online content helped offset flat revenues from gaming. The company's net profit fell 35 percent to CNY 14.0 billion, due to costs for the IPO of Tencent Music and several disposal gains in the year-earlier period. Adjusted EBITDA rose 18 percent to CNY 29.7 billion.

Tags: up costs investment falls


3 Group grows FY revenues 11% thanks to Italian takeover, customer base declines

2019-03-21 10:41:00| Telecompaper Headlines

(Telecompaper) 3 Group reported higher results for 2018, helped by its takeover of full control of Italian operator Wind Tre. However, the increased competition in the Italian market from the arrival of Iliad meant a decline in 3 Group's customer base, to 51.0 million customers at the end of 2018 from 52.3 million a year earlier. 

Tags: group customer base italian


Xiaomi grows FY revenues 53% on expansion abroad, new products

2019-03-19 13:26:00| Telecompaper Headlines

(Telecompaper) Xiaomi announced revenues of CNY 174.9 billion for 2018, up 52.6 percent. The Chinese company benefited from its expansion abroad, with international revenues more than doubling to CNY 70 billion, as well as expansion into new product categories and services, such as smart TVs and speakers. Net profit for the year totaled CNY 13.5 billion, and adjusted net profit grew 59.5 percent to CNY 8.6 billion.

Tags: new products expansion revenues


US esports ad revenues will grow 25% in 2019

2019-03-14 16:00:16| Digital TV News

Competitive video gaming is a rapidly growing, multibillion-dollar industry. Esports ad revenues are poised to surpass $200 million by next year, according to eMarketers first forecast on esports and gaming revenues.

Tags: in grow revenues


FIH Mobile FY revenues grow 23.6%, but losses widen as Nokia business weighs

2019-03-06 13:52:00| Telecompaper Headlines

(Telecompaper) FIH Mobile saw its revenues for 2018 grow 23.6 percent to USD 14.9 billion, while the net loss widened to USD 857 million from USD 525 million in 2017. The phone manufacturer said it benefited from growing sales of Nokia-brand phones under its deal with HMD Global, but margins remained poor on the Nokia devices and it was forced to write off goodwill from the investment. Losses are expected to continue in 2019, but the operating loss in H1 should be smaller than a year earlier due to cost-cutting efforts.

Tags: business mobile grow nokia


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