All posts tagged: pubg mobile

China’s Tencent posts weak revenue growth, plans to double buybacks | Business News

Published by Parlour News

China’s Tencent Holdings posted a weaker-than-expected 7% rise in fourth-quarter revenue on Wednesday as its gaming revenue shrank, and said it was expecting to at least double its share buybacks this year. The world’s largest video game company and operator of the WeChat messaging platform reported revenue of 155.19 billion yuan ($21.56 billion) for the three months ended Dec. 31. That compared with the 157.2 billion yuan average of 23 analyst estimates compiled by LSEG. Tencent’s core gaming business suffered a notable slowdown in the fourth quarter. Gaming revenue in China declined 3% to 27 billion yuan, while international gaming revenue increased only 1% to 13.9 billion yuan, or declined by 1% when excluding currency fluctuations. The company also said intends to at least double the size of its share repurchases from HK$49 billion in 2023 to over HK$100 billion ($12.78 billion) in 2024. Its shares had fallen some 16% over the past year to Tuesday’s close. In a call with media, Tencent president Martin Lau said the company saw a slowdown in gaming revenue …

Beyond PUBG: Krafton Dreams of Ascending the World Stage

Published by Webster

Walk into the topmost floor of Krafton’s HQ — spread across eight floors of a 35-storey glass-and-steel building in Seoul’s posh and trendy Gangnam neighbourhood — and you’ll be greeted by a giant curved screen. On a breezy, overcast November morning, it’s playing a loop of Krafton’s latest collaborations, including a tie-up with K-pop girl group Blackpink for an in-game concert. But it’s what lies behind that screen that defines the South Korean video game giant. A row of awards and trophies is dominated by seven Guinness World Record plaques. They are all for the battle royale title PlayerUnknown’s Battlegrounds — colloquially known as PUBG — Krafton’s most famous game to date. Following its massive success on PC, Krafton designed a free-to-play mobile offshoot, PUBG Mobile, in partnership with Chinese tech behemoth Tencent. It was by far the most popular mobile game in India, until its highly controversial ban in 2020. At the time of its ouster, India was PUBG Mobile’s biggest market, accounting for slightly less than a quarter of its global total downloads. …