Squad Busters: Fueling Tencent's Gaming Ascendancy
A new global gaming sensation has taken the world by storm: Supercell's latest creation, "Squad Busters," has claimed the top spot on the iOS free app charts in 119 markets within its first week of release and ranks among the top ten best-selling iOS games in 58 more territories. While Supercell might not ring a bell to those outside the gaming community, its majority owner, Tencent (00700), is a household name.
In a landmark deal in June 2016, Tencent purchased an 84.3% share in Supercell for $8.6 billion, marking one of the largest acquisitions in internet industry history. Supercell, a powerhouse behind numerous chart-topping games, has become a cornerstone of Tencent's gaming division, prominently featured in financial reports and the recent gaming showcase held last month.
As "Squad Busters" makes waves, will it signal a new growth spurt for Tencent's gaming sector in the upcoming quarter? UBS analysts predict that Tencent's international gaming presence will remain robust, with revenues estimated to surge by 9% in 2024 and 11% in 2025. By 2025, Tencent's total revenue is anticipated to break through the 60 billion threshold.
As "Squad Busters" makes waves, will it signal a new growth spurt for Tencent's gaming sector in the upcoming quarter? UBS analysts predict that Tencent's international gaming presence will remain robust, with revenues estimated to surge by 9% in 2024 and 11% in 2025. By 2025, Tencent's total revenue is anticipated to break through the 60 billion threshold.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
