Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
Tencent reported first quarter earnings on Wednesday that beat market expectations, fueled by its booming gaming business.
Shares in Asia's second-most valuable public company were under pressure coming into the earnings report, with investors fearing potentially lower margins and increasing costs.
But the Chinese technology giant dispelled those fears. Here's how it did:
Tencent has a number of different business areas, including advertising and gaming, and is the owner of China's largest messaging app, WeChat.
The gaming business boosted Tencent's revenues in the quarter. Smartphone games revenues alone were up 68 percent year-on-year to 21.7 billion yuan, thanks to titles such as "Honour of Kings." Tencent said that there was "double digit growth" in terms of daily active users for the game.
PC games revenues were flat year-on-year, but analysts said that there were tough comparisons with the first quarter of 2017, and overall the games business was in good shape.
"The most important thing is the halo effect coming through in gaming," Neil Campling, co-head of the global thematic group at Mirabaud Securities, told CNBC by phone on Wednesday.
The broader online game business was driven by two major hit games. The first is called "PlayerUnknown's Battlegrounds" or PUBG, which is a massive multiplayer online game. Tencent has the rights to run the game in China but said that it is "yet to be monetized," highlighting the potential future of the title.
"Fortnite" is the second game driving Tencent's strong quarter. It's a tournament-style game that is popular in e-sports, which is competitive video gaming. "Fortnite" was developed by Epic Games, a company that Tencent has a large stake in.
The game has gone viral and has over 40 million monthly active users across PC and consoles. It is also on mobile too. Currently unavailable in China, it will be launched in the country within the next few months.
"What you are seeing is the 'Fortnite' effect, bringing lots of new gamers into e-gaming arena," Campling said.
Tencent shares have been under pressure and are down around 17 percent from the record high seen in January. Earnings reported in the fourth quarter of 2017 underwhelmed investors and concerns were rising that spending increases could hit margins.
In the fourth quarter of 2017, the operating margin actually fell. But in the three months ended March 31, Tencent manage to raise its operating margin by 8 percent quarter-on-quarter. That's despite the company reporting that capital expenditure in the quarter was up 200 percent to 6.3 billion yuan.
Tencent's other earnings drivers included its video subscription service, which is similar to Netflix. The Chinese giant said that mobile daily video views were up over 60 percent year-on-year in the first quarter. Total video revenues were 75 percent higher. The company's investment in original content helped drive paid video subscriptions up 85 percent on the year.
Online advertising was up 55 percent year-on-year in terms of revenues, which was helped by video ads.
Tencent also runs two messaging services. One is an instant messanger known as QQ and the other is called WeChat, similar to WhatsApp but with payments, games and other services integrated.
For the first time, WeChat's monthly active users passed 1 billion.