Two hip, young start-ups are set to become the latest challenge to Tencent just as China’s dominant social media company struggles with shrinking margins and slowing growth.
Naspers expects to report an increase in earnings for its most recent financial year, bolstered by Chinese Internet giant Tencent and various e-commerce businesses. Core headline earnings per share, which exclude
Tencent Holdings, in which JSE-listed Naspers holds a 31.2% stake, posted first-quarter profit that blew past analysts’ estimates, bolstered by mobile game blockbusters like PlayerUnknown’s Battlegrounds
Tencent has posted its strongest growth in more than seven years, riding the success of games like Honour of Kings and a rapidly expanding Internet advertising business. Shares in Johannesburg-listed Naspers, which owns a third of