WeChat accounts cross one billion mark CEO

Citation: WeChat accounts cross one billion mark: CEO (2018, March 6) retrieved 18 July 2019 from https://phys.org/news/2018-03-wechat-accounts-billion-ceo.html WeChat operator Tencent reports surge in Q1 profit The all-in-one app is a daily necessity for most Chinese, bringing together messaging, social media, mobile payment, games, news and other services.”WeChat’s worldwide monthly active users have surpassed the critical one billion mark,” CEO Pony Ma said Monday on the sidelines of China’s parliamentary session underway in Beijing. “In the future we hope to use technological innovation to push forward the next developmental step of reform and opening,” Ma said.He was referring to China’s economic liberalisation policy that has fuelled four decades of breakneck economic growth. Although Ma said WeChat’s monthly active users had crossed the one billion threshold, a company spokesman told AFP he was referring to its total number of accounts. Still, the one billion figure indicates the huge user base which Tencent has built up both inside and outside China for its all-in-one app.It compares with 2.1 billion monthly active users on Facebook and 1.5 billion on its messaging app WhatsApp. The popularity of WeChat—and profits from its addictive mobile games—have pushed Tencent’s earnings and share price sharply upwards. The company surpassed Facebook in market value last year and the 47-year-old Ma has rocketed to near the apex of China’s rich list. He is the wealthiest delegate to the parliamentary session, according to Shanghai-based luxury magazine publisher Hurun Report, which estimated his fortune at $47 billion. Explore further © 2018 AFP WeChat’s worldwide accounts have crossed the one billion mark, according to the chief executive of its parent company Tencent. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Pony Ma says WeChat’s accounts have crossed the one billion mark read more

Telefonica sales hit by end of roaming charges

The end of roaming charges has hit Telefonica’s accounts hard SAP more ambitious after soaring Q1 profits Citation: Telefonica sales hit by end of roaming charges (2018, April 26) retrieved 18 July 2019 from https://phys.org/news/2018-04-telefonica-sales-roaming.html © 2018 AFP Explore further Spanish telecoms giant Telefonica saw its sales plunge in the first quarter due to the end of roaming charges in Europe, but still posted a 7.4 percent rise in net profit. The group’s turnover dropped 7.2 percent to 12.2 billion euros ($14.9 billion) due to the “negative impact of regulation” according to a statement, referring to the end of roaming charges in Europe in June 2017.Without this, turnover would have risen 3.1 percent year-on-year thanks in part to the sale of handsets, the group said.Net profit stood at 837 million euros, above analyst expectations. Shares rose 1.3 percent in early morning trading.The company said it also suffered from the depreciation of the Brazilian real and the Argentine peso—two important markets—against the euro.But Telefonica’s strategy of prioritising higher value services appeared to have borne fruit in the first quarter.The number of clients subscribing to 4G rose by over a third year-on-year, those using faster fibre-cable for their internet increased by 20 percent and people getting pay television by five percent.Net financial debt, the group’s black cloud, dropped to 43.9 billion euros from 44.2 billion end December. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. read more