TENCENT HOLDINGS ADR (OTCMKTS:TCEHY) has been in a strong uptrend over the past couple of months and has outperformed the broader markets, which is a positive. The stock continues to form higher highs and higher lows and has formed a strong base near the $18.75 level. The stock currently trades above all daily moving averages, which is seen as a positive. The relative strength index continues to trend sideways but has a positive bias indicative of inherent strength. The momentum indicators for the stock are pointing towards strong bullish momentum and strong buying interest. Traders believe the stock could head to levels of $21.25 in the near term.
TENCENT HOLDINGS ADR (OTCMKTS:TCEHY) has announced financial results for the recently concluded third quarter. As per the reports, the biggest highlight was the whopping 34% hike in revenues that helped the company surpassing the overall revenues to $4,181 million.
The favorable market conditions helped Tencent Holdings register excellent growth in terms of sales and revenues. The operating margin of the company was 38% in 2014; however, it increased to 39% in this year. The overall operating profit of Tencent Holdings elevated 37% to touch a magical figure of $1,624 million. When it comes to overall profit, Tencent Holdings registered a hike of 34% and touched $1,192 million. Net margin during the same period in 2014 was 29 percent.
Profit attributable to equity holders was $1,170 million, up 32% YOY. The basic earnings per share for the period totaled RMB0.800, whereas diluted earnings per share totaled RMB0.792.
The senior management team of Tencent Holdings was delighted to report 3Q2015 financial results and hoped that the company would continue to move higher in the coming months as well. Mr. Ma Huateng, CEO & Chairman, Tencent, third quarter brought excellent results for the company. The company delivered solid operational growth in all the core platforms.
The management had decided to implement a new strategy to enhance the performance of its mobile gaming business, and, fortunately, it worked well. The online advertisement revenue of the company doubled on YOY basis, which’s something Tencent management was confident about. Over 200 million people have attached their bank cards to company’s Weixin Pay services and QQ wallet, resulting into a sharp growth in O2O, e-commerce and person to person transactions.
Tencent Holdings used its platform to launch “9.9 Charity Day” with 95 other charitable organizations. The prime objective of this launch was to raise awareness for them. It looks forward to taking such steps in the future also.