Mar 21, 2024 08:18 PM
BUSINESS
Tencent Posts Weaker Quarterly Results Amid Gaming Challenges
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Tencent’s domestic games revenue in the fourth quarter slid 3% to 27 billion yuan due to lower revenue from its flagship titles. Photo: VCG
Tencent Holdings Ltd. (腾讯) reported weaker-than-expected results in the fourth quarter of 2023, as the Chinese internet behemoth faced challenges growing its gaming business, particularly in China’s domestic market.
During the three-month period, Hong Kong-listed Tencent generated 155.2 billion yuan ($21.9 billion) in revenue, up 7% from 2022, according to its earnings report released Wednesday. That missed the average estimate of 157.4 billion yuan by analysts surveyed by Bloomberg.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新