Tencent's weaker-than-expected results came a day after investors wiped around $15 billion off its market value on news that Chinese regulators had blocked it from charging for of one of its blockbuster titles, "Monster Hunter: World". The interesting parts of it are the details about Riot's declining playerbase and Tencent's own pursuit of mobile gaming, which have supposedly caused both companies to butt heads a couple of times in the past. Worryingly, revenue from online games, which ring in more than a third of the total, grew at a tepid 6% year-on-year. "For new game approvals, there will continue to be a drag", she said. The explanation cited alleged customer complaints.
The poor result punctuates an abrupt about-face in sentiment this year as Beijing chilled the world's largest gaming arena. Desktop titles have been in decline as gamers move to smartphones.
One potentially promising area is payments, where monthly active users stood at 800 million as of June.
Tencent is reportedly now more interested in the burgeoning battle royale genre, holding stakes in both Fortnite and Unreal Engine 4 maker Epic Games and Playerunknown's Battlegrounds firms Bluehole and PUBG Corp.
The company is diversifying by building up advertising, video and music streaming. But costs are ballooning, while margins are much lower than in the company's core gaming operation.
However, operating profit for Tencent's second quarter dropped by 3 percent year-on-year to 21.8 billion yuan (~$3.14 billion), but for the six month period this increased by 25 percent to 52.5 billion yuan (~$7.57 billion).
The world's largest videogame company said its net income last quarter fell 2% from a year ago-the first such year-over-year decline it has recorded since 2005.
The company expects measures to "reinvigorate" its mobile game revenue growth to take "several months to take effect", according to its filing. For all its heft, though, gaming remains essential for Tencent's bottom line. Adjusted earnings per share were 2.06 yuan, compared with the prediction for about two yuan.
"The key here is, not only PUBG, but no games are able to get licenses now", a person from Tencent told Reuters on Tuesday on condition of anonymity due to the sensitivity of the matter. The freeze follows a reorganisation of the government bodies that oversee gaming and other media sectors earlier in the year.
While Tencent's shares fell by 3.9 percent, it isn't just the Chinese video game market that is devastated by the freeze.
League numbers are down from their peak, but it's still one of the most-played games in the world and we're very happy with the numbers, and we think some of the new content we're putting out soon can only help with player numbers.
Mr Trump's latest attack on Ms Manigault Newman prompted immediate criticism from lawmakers and others. Trump took the fight up another level when he tweeted that Manigault Newman was a "dog" on Tuesday.
I'd like to think that standing up against human rights violations would gain similar support, but such is not the case. The United States could easily replace Saudi crude thanks to its growing production, Dwarkin said.
Chelsea midfielder N'Golo Kante says being a World Cup victor counts for little now the new Premier League season is underway. However, former Napoli coach Mauricio Sarri was confirmed as Conte's replacement at the Premier League giants.
In the footage the Egyptian - wearing a red top - appears to use his mobile phone as he gazes down at the screen. The Liverpool talisman has been marketed as not only a world-class footballer, but also a genuinely nice guy.
Manchester City star Kevin De Bruyne has suffered a knee injury during training and looks set for a spell on the sidelines. De Bruyne made 52 appearances in a marathon 2017-18 season for City before featuring heavily for Belgium at the World Cup.
The book " In a free state " was included in the shortlist for the Golden Booker prize for the best book in the last 50 years. Reports out of the United Kingdom quotes his wife, Lady Naipaul, as confirming his death. "I feel a little bit that way".
He said: "Her brain was basically exposed, and I mean, we're talking seizures and infections and all kinds of problems". Katie Stubblefield was 18 when she attempted suicide on Mar 25, 2014 and suffered a facial gunshot wound.
The strangest part according to the former White House employee was that it seemed commonplace to Ivanka. He said Manigault Newman had called him "a true champion of civil rights" until she was sacked .
Libya has emerged as a major transit point to Europe for those fleeing poverty and civil war elsewhere in Africa. It is the only rescue ship in the area of the Mediterranean where migrants' vessels are known to capsize.
Turkey is increasing tariffs on imports of United States products, escalating a feud that has also triggered a currency crisis . Erdogan has repeatedly described the crisis as an "economic war" that Turkey will win.
Manchester City's David Silva retires from Spain duty
David Silva has announced his retirement from worldwide football after Spain's disappointing World Cup last-16 exit. And of course, the fans who have always given me their support and respect every time I wore the Spain shirt.
Turkey raises tariffs on USA imports amid economic spat
A string of robust earnings also boosted USA shares. "Besides fiscal discipline, monetary tightening is the remedy". A similar plea came from the nation's banks, including the second-largest by assets, Turkiye Garanti Bankasi AS.
Zinedine Zidane wants to replace Jose Mourinho as manager
Manchester United star Alexis Sanchez believes Fred will prove to be an important addition to the squad later on in the season. The rumour comes from a reliable source and this isn't the first time that Zidane has been linked with Manchester United .
Modric named in Real Madrid squad amid Inter links
Atlético won both of the UEFA Super Cup finals they have played in (beating Inter in 2010 and Chelsea in 2012). UEFA's technical observers said the goal was "an extraordinary display of technique and athleticism".