Tencent Posts Biggest Profit Decline Since 2004, Freeze on New Game Licences Scaled Down Revenue

Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.

Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refinitiv data.Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance, and also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business. Revenue totalled CNY 135.5 billion (roughly Rs. 1,55,804) in the quarter ended March, versus CNY 135.3 billion (roughly Rs. 1,55,655 crore) in the same quarter last year, and below an average estimate of CNY 141 billion (roughly Rs. 1,62,200 crore) from 16 analysts, according to Refinitiv. Tencent, which makes much of its money by developing games such as Honour of Kings and Call of Duty Mobile, said profit attributable to equity holders of the company for the quarter also fell 51 percent. It marks the biggest profit decline since the company went public in 2004, according to Refi