Tencent revenue falls for 1st time since going public

By Agence France-Presse

Aug 24, 2022 12:10 am

HONG KONG: Tencent posted recently its first drop in quarterly revenue since going public as the Chinese technology giant grapples with China's economic downturn, coronavirus pandemic disruptions and ongoing scrutiny from regulators.

Revenue in April to June fell 3 percent to 134 billion yuan ($19.8 billion) from the year before while profits plunged by 56 percent to 18.6 billion yuan, an earnings statement said on August 17.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Global airlines stick to net-zero target

Hewlett Packard beats Q2 results estimates

Ford, Hyundai report higher US sales in May

Remy Cointreau withdraws 2030 goals

Victoria's Secret website down due to breach

Chinese airlines to buy Airbus jets

Warner Bros Discovery shareholders reject 2024 executive pay