Tencent has shared its financial results for the second quarter of 2023 ended June 30. Although the Chinese tech giant posted growth in key business metrics, they were below analysts’ expectations.

Tencent is back on its shopping spree as its global expansion continues. The Chinese tech giant is now preparing to acquire a majority stake in Dying Light developer Techland.

Lighthouse Games, an independent studio started by Playground Games co-founder Gavin Raeburn, has secured investment from Chinese tech giant Tencent. This marks a huge step forward for the UK team.

Mobile market analytics platform data.ai has shared its annual list of the top 50 global publishers by consumer spend. No company is still able to overthrow Chinese tech giant Tencent.

PUBG Mobile is the second highest-grossing mobile game globally. The title only strengthened its position after reaching a new revenue milestone.

The New Fortune Magazine has released its 2023 China’s 500 richest people list. It includes founders of large tech companies, as well as all three founders of Genshin Impact maker miHoYo.

Tencent has announced its financial results for the year ended December 31, 2022. Let’s focus on the key points and results that the Chinese company achieved in the gaming business.

China has issued a new batch of licenses to publish foreign games for PC, mobile, and consoles. Some of them will be released in the country by Tencent and NetEase.

While Microsoft’s proposed acquisition of Activision Blizzard is under regulatory scrutiny in the West, some Chinese companies have supported the deal. The country’s gaming giant Tencent is reported to be one of them.

China has no plans to ease its regulations aimed at protecting minors from gaming addiction. Tencent has already expressed its readiness to help the government in the new phase of this protracted fight.

Tencent continues to fight corruption within the company. The Chinese gaming and tech giant has fired more than 100 employees over bribery and other violations, also reporting some of them to the police.

Pony Ma, co-founder and CEO of Chinese tech giant Tencent, has delivered an angry address to employees. He criticized almost every division of the company, warning that some of the businesses might be closed in the face of the crisis.

PUBG Mobile has reached another milestone by crossing the $9 billion mark in lifetime revenue. Players have spent another $1 billion on in-game purchases over the last two quarters.

Tencent continues to strengthen its position outside China by investing more money in Western companies. It has now increased its stake in Max Payne and Control maker Remedy Entertainment.

Chinese tech giant Tencent has reportedly started a new round of layoffs. Employees at several key business units, including video games, may soon lose their jobs.

Tencent has been struggling to make a comeback amid ongoing regulatory pressure in China and other macroeconomic factors. As a result, the downfall of the company’s stock continues.

Shawn Layden, the former head of Sony Interactive Entertainment, has joined Tencent Games as a strategic advisor. He will help the Chinese tech giant strengthen its positions in the global games market.

A round of layoffs has hit gaming media outlet Fanbyte, which is owned by Tencent. This comes at a time when the Chinese tech giant is making cuts at its subsidiaries.

Ubisoft CEO Yves Guillemot has opened up Tencent’s recent investment in Guillemot Brothers Ltd. He noted that this deal won’t affect the company’s independence in any way, while also commenting on the latest share price drop.