Tech

Tencent posts the sharpest profit decline since its release

Tencent Holdings Since its listing in Hong Kong in 2004, quarterly profits have recorded the worst decline. Revenues were largely flat as China’s pandemic revival added to the headwinds of a year-long crackdown on regulations.

Social media and video game giants said it would take time to absorb the regulatory measures that reduced advertising and video game revenue over the past year, warning: China Covid-19 Restrictions It may delay the recovery of the advertising business.However, executives said they welcomed the recent signal. Beijing wants to support the technical sectorMay give breathtaking space to Tencent and other embarrassed tech giants.

Tencent posts the sharpest profit decline since its release

Source link Tencent posts the sharpest profit decline since its release

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