Mar 21, 2024 08:18 PM

BUSINESS

Tencent Posts Weaker Quarterly Results Amid Gaming Challenges

00:00

00:00/00:00

Listen to this article 1x

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’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

Subscribe today for just $.99.

VIEW OPTIONS

Download our app to receive breaking news alerts and read the news on the go.

Get our weekly free Must-Read newsletter.

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: China Lights Up for Mid-Autumn Festival

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Biz Roundup: Indonesia Woos Chinese Investment in Solar, EV Battery Production

00:00

00:00/00:00

MOST POPULAR

1: Hunan Province Finance Chief’s Deadly Fall Treated as a Criminal Case

2: PwC Hong Kong Next in Firing Line Over Evergrande Scandal

3: In Depth: Punishing People for Their Relatives’ Crimes Comes Under Scrutiny in China

4: China Underscores Commitment to Controlling Vast Government Debt

5: In Depth: Why Hong Kongers Are Flocking to the Mainland for Health Care

SPONSORED

OR