Tencent Rides Soaring Online Gaming Revenue to Post Rise in Q1 Profit

-
Tencent reported a forecast-beating 65 percent rise in quarterly profit, while management reiterated the company's focus on compliance as China steps up scrutiny on tech giants.

from NDTV Gadgets - Latest https://ift.tt/34291Qv

Comments

Post a Comment

Popular posts from this blog

Younger Generations of Traders Favour AI Advancements in Crypto, Web3 Sector: KuCoin Report

-
Millennial and Gen Z members of the Web3 community are hopeful that advance Artificial Intelligence (AI) integration with the sector will finetune investment decisions for younger investors. KuCoin, that claims to be the fifth largest crypto exchange in the word, conducted a detailed study on how AI could be integrated into Web3 elements like crypto and blockchain gaming among others. While AI has been a popular tech tool among developers for nearly a decade now, but discussions around the technology picked pace after AI-based chatbots like ChatGPT recently blew up on social media. Now, as the technology has seen widespread adoption, Big Tech is racing to integrate AI tools in its services. KuCoin surveyed 1,125 crypto users from different parts of the world to understand how the Web3 community perceives AI. The survey included responses from Gen Z users aged 18-24 (15 percent), Gen Y users aged 25-40 (54 percent), Gen X users aged above 40 (31 percent), with a varied level of experi...
Read more

League of Legends, Valorant Developer Riot Games to Lay Off About 11 Percent of Staff

-
Tencent Holdings' Riot Games plans to lay off 530 employees, or about 11 percent of its staff globally, the online gaming company said on Monday in a blog that included a letter to employees from CEO Dylan Jadeja. Los Angeles-based Riot, whose popular titles include League of Legends , said teams outside of core development will see the largest impact from layoffs. Digital games publishers are struggling to grow, as audience hold off on buying expensive titles or stick to fewer games amid high inflation. Early last year, Electronic Arts cut 6 percent staff and gave up some office space. "Today, we're a company without a sharp enough focus, and simply put, we have too many things underway. Some of the significant investments we've made aren't paying off the way we expected them to. Our costs have grown to the point where they're unsustainable," Jadeja said in the letter. The changes will allow Riot to focus on its portfolio of live games League of Le...
Read more