BRIEF: Hello Group’s booming offshore business fails to offset weakness at home
Dating app operator Hello Group Inc. (MOMO.US) on Tuesday reported its revenue fell 5.3% year-on-year in the first quarter to 2.39 billion yuan ($353 million), as continued weakness in its…
BRIEF: China Literature hikes stake in Wuhan YHKT to majority
Online literature platform China Literature Ltd. (0772.HK) said on Tuesday that it will acquire an additional 28.22% of Wuhan YHKT Entertainment Co. Ltd. from Tencent for 400 million yuan ($59.26…
INDUSTRY BRIEF: Macao gaming revenue up 6.7% in May
Macao’s gross gaming revenue (GGR) for May totaled 22.61 billion patacas ($2.8 billion), up 6.7% year-over-year and a 13.7% increase from the previous month, Macao's Gaming Inspection and Coordination Bureau…
BRIEF: Weibo ad revenue grows, as adjusted profit falls 23%
Social media platform Weibo Corp. (9898.HK; WB.US) reported on Thursday that its revenue rose 6% year-on-year to $421 million in the first quarter, as advertising and marketing revenue increased 9%…
BRIEF: Baidu proposes DAA metric for AI, as AI-driven business passes half of revenue
Baidu Inc.’s (BIDU.US; 9888.HK) revenue from its general business grew 2% year-on-year to 26 billion yuan ($3.82 billion) in the first quarter, as its core AI-driven business accounted for more…
BRIEF: NetEase profit inches up as gaming revenue stays strong
Gaming giant NetEase Inc. (9999.HK; NTES.US) announced on Thursday its revenue rose 6.1% year-on-year to 30.6 billion yuan ($4.5 billion) in the first quarter, while its net profit increased 3.6%…
BRIEF: Tencent profit rises 11% amid stepped-up AI investment
Internet giant Tencent Holdings Ltd. (0700.HK) on Wednesday reported its revenue rose 9.1% year-on-year to 196 billion yuan ($28.93 billion) in the first quarter. Its non-IFRS profit rose by 10.7%…
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