Tencent announces robust revenue growth

Industry rally: People walking past the Tencent headquarters in Shenzhen. The Internet giant announced a 9% year-on-year dip in third-quarter net income even as it posted growth in revenue over the same period. — AFP

HONG KONG: China’s Tencent Holdings says third-quarter revenue climbed 10%, as its games business rebounded from a regulatory crackdown on the country’s tech sector and online advertising sales surged.

Sales for the world’s largest video game company and operator of the WeChat messaging platform came in at 154.6 billion yuan – in line with market forecasts – for the three months to end September, its third straight quarter of revenue growth.