The social media giant is trying to bounce back from a horrendous 2018, when a regulatory clampdown walloped its marquee games business. — Reuters
Tencent Holdings Ltd’s comeback is taking a little longer than expected. The Chinese social media giant’s shares tumbled more than 4% after quarterly revenue fell short of analysts’ projections.
China’s leading gaming company posted disappointing growth after rivals like ByteDance Inc and a broader economic slowdown sapped advertising. Online ad revenue grew a worse-than-expected 16% as the Internet wunderkind undercut Tencent’s efforts to load more ads into its WeChat super-app.
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