China’s Tencent posts weaker than expected revenue growth

CHINA’S Tencent Holdings posted a 7 per cent rise in fourth-quarter revenue on Wednesday (Mar 20), trailing analysts’ expectations, as China’s economic slowdown takes a toll.

The world’s largest video game company and operator of the WeChat messaging platform said revenue reached 155.19 billion yuan (S$29 billion) for the three months ended Dec 31.

That compared with the 157.2 billion yuan average of 23 analyst estimates compiled by LSEG.

For all of last year, Tencent’s revenue rose 10 per cent to 609 billion yuan, which trails expectations at 612.2 billion yuan. REUTERS