Tencent’s Big Leap: 98% Profit Surge + $72B Cash Pile Over Facebook!
While Facebook’s stock has been rolling downhill—so much so that it’s lost more than 2% on day three—China’s gaming powerhouse Tencent Holdings is flexing its financial muscles. The giant posted a jaw‑dropping 98% jump in quarterly net profit, vaulting its market value to roughly $72 billion above that of Facebook.
Facebook’s Rough Ride
- Shares slid below $165.23 in early New York trading.
- Downfall sparked by the Cambridge Analytica data‑mining storm.
- Company insists it never broke any rules.
Cambridge Analytica Sinks
Alexander Nix, the beleaguered boss, was shot down by the firm. His off‑record comments—caught by Channel 4 News—were deemed “not representative of the company’s values,” the statement read.
Britain Takes a Look
- Investigating whether Facebook did enough to protect user data.
- Whistleblower claims 50 million users’ info was misused to sway opinions.
- Decision pending on potential repercussions for Facebook’s ethics and compliance.
What This Means for Investors
If you’re tracking the stocks in the tech arena, Tencent’s explosive upswing is a tempting catch‑eye, while Facebook’s tumble is a reminder that data ethics can hurt a company’s price tag just as hard as a bad marketing strategy.
