Tencent Posts First Revenue Drop Since 2004 IPO

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SINGAPORE—Tencent Holdings almost two-decade progress streak got here to an finish after the Chinese language social-media and videogame large posted its first quarterly income decline because it went public in 2004.

Tencent’s April-June income dropped 3% from a yr earlier to the equal of $20 billion, the corporate stated Wednesday, as China’s slowing economic system additional dented its online-advertising income, whereas its videogame enterprise continued to struggle from tighter regulations and weaker person spending.

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