Tencent Will Struggle in the Greatest Game of All
The world’s largest game company Tencent Holdings had a record quarter, but the U.S.-China geopolitical storm could cloud its outlook.
The company’s revenue rose 29% from a year earlier while its operating profit surged 43% for the quarter ended in June, both its highest ever and ahead of analysts’ estimates on S&P Global Market Intelligence. Games remain its money spinner; smartphone game revenue rose 62% from a year earlier. Partly that was against a lower base: Its smash hit “PUBG Mobile,” known in China as “Peacekeeper…