Chinese gaming and social media giant Tencent reported no revenue growth in the first quarter, its worst performance since it went public in 2004
reported on Wednesday its quarterly profit halved from a year ago and revenues stagnated, blaming cuts in advertising spending by consumer, e-commerce and travel businesses for its worst performance since it went public in 2004.
Lau also added that while stricter regulations could become "normal practices", COVID outbreaks had emerged as a bigger challenge. Still, regulatory curbs have hurt many of Tencent’s revenue engines including video games. After freezing new game licences for 8 months, Beijing resumed issuing licenses in April but the latest batch of new licenses did not include games from Tencent, which makes much of its money by developing games such as 'Honour of Kings' and 'Call of Duty Mobile'.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
THE PATH TO FLORIDA | Vanity Fair | October 2004As the Florida recount ate away at George W. Bush's margin of victory (1,784 votes . . . 327 . . . 154 . . .), the machinery of political power sprang to life. In Washington, stunned U.S. Supreme Court clerks watched justice become partisan, while in Florida, tens of thousands of citizens—thousands of them African-American—found themselves disenfranchised by misleading, faulty, and uncounted ballots, or inexplicably purged from the rolls. Zeroing in on the frenzied 36 days that followed the 2000 election, David Margolick, Evgenia Peretz, and Michael Shnayerson investigate the 'Brooks Brothers riot,' Jeb Bush's high-tech felon hunt, and the new voting machines that leave no paper trail, and ask, Could it happen again?
Read more »
After overturned conviction and 15-year flight from justice, 2004 Pleasant Hill murder case is overTyson Moorehead and Kenneth York have accepted murder convictions in the 2004 killing of Michael Fidler.
Read more »
Children's Hospital Colorado Continues Push To Invest In Mental Health As Younger Generation StrugglesChildren’s Hospital Colorado Continues Push To Invest In Mental Health As Younger Generation Struggles
Read more »
Pennsylvania AG, governor candidate Josh Shapiro tests positive for COVID-19Josh Shapiro, the unopposed Democratic candidate for Pennsylvania governor, has tested positive for COVID-19.
Read more »