Photo: ReutersHong Kong: Alibaba and Tencent can count themselves among the world’s costliest technology companies after a stellar run. To justify those lofty valuations, China’s two largest corporations have to deliver on some of the riskiest bets they’ve placed in years. Tencent Holdings Ltd is extending a gaming empire built around social phenomenon WeChat, buying studios and creating content to evolve into an entertainment powerhouse. “The digital scale platform titans, such as Tencent, Alibaba and Facebook deserve premium ratings, but they will need to ‘grow’ into such ratings rather than skyrocket higher,” Campling wrote in a report to clients. Tencent reports its quarterly numbers on Wednesday, a day before Alibaba posts its results in the US.

Source: Mint August 14, 2017 05:48 UTC