HONG KONG: Tencent Holdings is expected to report a small rise in quarterly net profit on Wednesday, with a steady gain in advertising revenue helping offset a slump in its core gaming business caused by a prolonged regulatory crackdown.
China, the world’s biggest gaming market, stopped approving new games since March amid a regulatory overhaul, leading to Tencent reporting its first profit decline in more than a decade in the June quarter. Tencent is now cutting the marketing budget for the gaming division.
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