Why Tencent Holdings Was Rallying Today
Shares of Chinese tech giant Tencent Holdings (OTC: TCEHY) rallied about 5% on Tuesday as of 1:52 p.m. ET after the company released its earnings results for the first quarter of 2024.
Tencent has various businesses across video games, online advertising and social media, video and music subscriptions, fintech services, and cloud software. But while video games get the lion's share of attention and were slightly down, virtually all of Tencent's other segments posted solid growth.
And even though games revenue was down, there was also positive news even in that important segment.
Source Fool.com
Tencent Holdings Ltd. Stock
€48.52
-0.380%
Currently there is a rather positive sentiment for Tencent Holdings Ltd. with 4 Buy predictions and 1 Sell predictions.
As a result the target price of 55 € shows a slightly positive potential of 13.37% compared to the current price of 48.52 € for Tencent Holdings Ltd..
