Tencent results yesterday! This was for their first quarter of 2016. Follow the link to download the .pdf. As you can see clearly, revenues rose 43 percent to 31.995 billion Renminbi, or 4.952 billion Dollars. Or in their listed environment, Hong Kong, in those Dollars that equals 37.95 billion Hong Kong Dollars. Or to really get a sense of how big this business would be in a South African context, that is revenues from Tencent (for the last quarter) of 77.75 billion Rand.
Profits for the period were 10.134 billion Renminbi, on a per share basis (in Hong Kong Dollars) earnings were 1.072 Renminbi. Or 1.27 Hong Kong Dollars. If you annualise that, you get to over 5 Hong Kong Dollars, which at and around 160 Hong Kong Dollars the stock trades on 32 times earnings. Growing really quickly, if you do the quick PEG ratio you get to around 1. Funny how cheap this has become. We are still conviction buy on Naspers.