Tencent now valued at over $500 billion

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Tencent shares hit a record high Monday, bringing its valuation to over $500 billion. The technology firm is the first from China to reach the landmark valuation as it closes in on the likes of Facebook and Amazon. To put that in perspective, that's more than the market caps of EA, Activision Blizzard, Ubisoft and Take-Two combined.

The company has doubled its stock price in the last 12 months and this latest market cap news comes immediately after Tencent posted a third quarter with profits up nearly 70%.

The company's presence in the global games business seems to grow by the day, with major or minor stakes in numerous publishers and developers. Notably, Tencent has stakes in Supercell, Epic Games, Riot Games, Frontier Developments, and took part in Activision Blizzard's buyback from Vivendi, just to name a few of its interests. It also appears to be eyeing an acquisition of PUBG developer Bluehole.

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More at the link:
http://www.gamesindustry.biz/articles/2017-11-20-tencent-crosses-USD500-billion-market-cap-milestone

 

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