Tencent Books $21 Billion Revenue in Quarterly Earnings Rebound

Tencent Holdings Ltd. brought its revenue back on a growth track in 2022’s final quarter after two successive quarters of contraction, buoyed largely by strong demand for ads on its short-video platform. 

During the three-month period, Hong Kong-listed Tencent generated 145 billion yuan ($20.8 billion) of revenue, representing a small year-on-year increase of 0.5%, according to its earnings report released on Wednesday.