Tencent announcement screenshot
On Tuesday, Tencent repurchased 126,000 shares of the company, spending about 39 million Hong Kong dollars; Tencent repurchased 125,000 shares of the company on Wednesday, spending about 38.6 million Hong Kong dollars; Tencent repurchased 124,000 shares of the company on Thursday, spending about 39.5 million Hong Kong dollars. A total of nearly 190 million Hong Kong dollars was spent.
According to Bloomberg News, Tencent’s last share repurchase was in April 2014.
On Friday, Tencent shares rose 1.91% to 330 Hong Kong dollars, with a total market capitalization of about 3.14 trillion Hong Kong dollars.
Tencent’s earnings report released last month showed that in the second quarter of 2018, Tencent’s total revenue was RMB 73.675 billion (US$11.135 billion), a 30% increase over the same period last year; the company’s equity holders’ profit was RMB 17.867 billion (27.00). US$100 million, a decrease of 2% over the same period last year. According to foreign media statistics, this is Tencent's first quarterly profit decline in 13 years.