Tencent Posts No Growth in Q1 Revenue, Misses Estimates

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - HONG KONG. Chinese gaming and social media giant Tencent Holdings reported virtually no growth in first-quarterly revenue, its worst ever such performance. The company also missed market estimates as China's economic slowdown and a freeze on new game licences weighed on its business.

Revenue totalled 135,5 billion yuan (US$ 20,08 billion)in the quarter ended March, versus 135,3 billion yuan in the same quarter last year, and below an average estimate of 141 billion yuan from 16 analysts, according to Refinitiv.