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BBCNEWS World Business Report June 4, 2024 10:36:00

On lower priced products which seems to have attracted bargain hungry shoppers amid an economic slowdown. the company also said it attracted more vendors too. it was a different story over at tencent, where earnings results came in below estimates. revenue did grow 11% tojust over $20 billion. but its core gaming business suffered wea ker than expected growth. domestic gaming revenue in particular saw little change, a sign that the economic slowdown in china has hurt the tech giant s recovery following a record slump last year. it s been a difficult week across the board in china we saw house prices fall, disappointing retail sales, and a decision by the government to stop publishing its regular update on youth unemployment which hit a record high injune. the chinese premier li chung has said that his country would work to achieve its economic targets after calls for more government stimulus. in singapore, cash, cars, properties and watches were among the luxury items seized ....

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HONG KONG Tencent Holdings said Wednesday that it seeks to deploy its own foundation model for generative artificial intelligence sometime this yea ....

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China's Tencent Grinds Out Profits Increase in Second Quarter, as Local Games and Economy Slow

Tencent, the Chinese games, social media and streaming giant, reported further quarterly profits recovery after a dire 2022. But its revenues for the April-June period missed financial analysts’ expectations and point to continued weakness in the Chinese economy. Group revenues for the period were RMB149 billion ($20.6 billion), representing an 11% year-on-year growth, but a … ....

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China's Tencent reports jump in Q2 income, misses revenue expectations

Chinese internet giant Tencent announced on Wednesday a 41 percent year-on-year jump in second-quarter net income, but missed analyst forecasts for revenue.And on a quarter-to-quarter basis, Tencent's latest quarterly net income figure represents an increase of just 1 percent. ....

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Excelsio news and information from the World. A way to knowledge! ....

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