Tencent’s Q3 profit up 3 per cent, its slowest growth in two years amid regulatory crackdown, gaming licence freeze

//Tencent’s Q3 profit up 3 per cent, its slowest growth in two years amid regulatory crackdown, gaming licence freeze

Tencent’s Q3 profit up 3 per cent, its slowest growth in two years amid regulatory crackdown, gaming licence freeze

Tencent Holdings reported a 3 per cent increase in profits in the third quarter of 2021, its slowest growth in two years, as China’s biggest social media and video gaming business faces regulatory uncertainty amid tighter government scrutiny of the industry.The Hong Kong-listed company on Wednesday posted a net profit of 39.5 billion yuan (US$6.18 billion) in the quarter ended September, up from 38.54 billion yuan in the same period last year, beating estimates of 32.6 billion yuan.Revenue…

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By | 2021-11-10T09:09:06+00:00 November 10th, 2021|Technology|Comments Off on Tencent’s Q3 profit up 3 per cent, its slowest growth in two years amid regulatory crackdown, gaming licence freeze