Tencent’s Online Games Get a Boost From… Tesla?

Billy Duberstein, The Motley Fool

13 August 2020 at 9:30 am·5-min read

Tencent’s Online Games Get a Boost From… Tesla?

Chinese internet giant Tencent (OTC: TCEHY) reported its second-quarter earnings on Wednesday, Aug. 12, delivering strong results and seeing its stock rise over 3.1% in the aftermath, adding to its already hefty year-to-date gains. Tencent bounced back after its stock sold off in early August, after the Trump administration targeted the company's wildly popular social media platform, WeChat. Meanwhile, while WeChat delivered solid growth in the second quarter, Tencent's overall results were powered by its dominant online games segment, as much of the world was holed up in quarantine through June.

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