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Tencent quarterly revenue growth slows to 19%

2015-08-12 16:27:00| Telecompaper Headlines

(Telecompaper) Tencent reported second-quarter revenues of CNY 23.43 billion (USD 3.83 billion), up 19 percent on the year-earlier period. Operating profit rose 28 percent to CNY 10.04 billion, and the margin improved to 43 percent from 40 a year ago. Net profit reach CNY 7.31 billion, up 25 percent, and on an adjusted basis, rose 32 percent to CNY 7.98 billion. Growth was led by online advertising, up 97 percent to CNY 4.07 billion. Tencent also grew revenue from online games, by 17 percent to CNY 12.97 billion, and its social networks, by 17 percent to CNY 5.46 billion. The company increased capital expenditure by 210 percent compared to a year earlier, to CNY 2.84 billion, while free cash flow was down 14 percent over the same period to CNY 5.42 billion. Looking forward, Tencent said it will continue invest in premium content, including new games, in order to drive the growth in ad revenues. It's also focused on improving content and building partnerships for its subscription services such as e-reading, video and music, and driving volumes over its integrated payments services.

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Annual house price growth 'slows'

2015-08-06 10:09:47| BBC News | Business | UK Edition

Growth in UK house prices slowed in the year to July, according to the country's largest mortgage lender, although they are still rising "robustly".

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UK services growth slows slightly

2015-08-05 11:40:13| BBC News | Business | UK Edition

Growth in the UK service sector remains strong, but slowed slightly in July, the latest survey from Markit/CIPS suggests.

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Liberty Global growth slows in Q2 after Dutch merger

2015-08-05 08:33:00| Telecompaper Headlines

(Telecompaper) Liberty Global added just 115,000 new revenue-generating units in the second quarter, for a total 52.9 million at the end of June, as its merger in the Netherlands led to a loss of customers there. The 87,000 RGUs lost in the Netherlands were offset by a return to growth of 92,000 in Germany, a small acquisition in Romania and improving performance in the UK. Revenue growth in the UK, Germany and Belgium also helped the cable operator achieve organic revenue growth of 3 percent year-on-year in the quarter and operating cash flow up 4 percent. Total revenues were still down slightly due to the stronger dollar, to USD 4.26 billion from USD 4.30 billion a year ago, while operating cash flow rose 2 percent to USD 2.06 billion. Liberty Global's capital expenditure increased to USD 971 million or 22.8 percent of revenue from USD 895 million or 20.8 percent in Q2 2014, driven mainly by the integration of Ziggo and UPC in the Netherlands. The company said it's taking measures to improve results in the Netherlands and expects to start benefiting from synergies there in H2 as well, leading to stronger customer, revenue and cash flow growth in the rest of the year. In addition, the company said it's finalized the 'Liberty 3.0' programme, which will lead to a new organisational structure and growth plans. Liberty said the plan should "unlock efficiencies", much of will be reinvested to drive faster revenue and operating cash flow growth in the high single digits over the medium term.

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