Tencent Posts Biggest Profit Decline Since 2004, Freeze on New Game Licences Scaled Down Revenue
Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China’s economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY … Read more