I intentionally held off writing about Tencent's earnings. One reason is I want to see market's reaction to the earnings, and also to allow myself a more objective analysis after much of the media hype and noises had died down. I will just be comparing year-on-year figures as quarter-on-quarter change is too short a period to form any meaningful analysis. For a company that is still growing strongly I will be looking at just the revenue and profit, margin, and cash flow, as I seek to find out if the growth rate is still intact. Earnings

Source: Tencent 2Q 2018 Results Presentation

  *figures in bracket is 1Q yoy growth All segments showed healthy growth margin, except for Online Games that increased 6%. Online Games further split into Smart Phone Games and PC Games. For Smart Phone Games, revenue was up 19% yoy (68%), while PC Games revenue was  ......