Chinese giant reports slowest revenue growth ever


Tencent’s twin-skyscrapers at Shenzhen Bay Start Up Plaza in Nanshan business district.

Nikada | Getty Images

Tencent on Wednesday reported its slowest quarterly revenue growth on record for the fourth quarter of 2021, as the Chinese technology giant continues to feel the impact of Beijing’s regulatory tightening on the domestic technology sector.

However, the company posted a surge in profit in the fourth quarter.

Here’s how Tencent did in the fourth quarter, versus Refinitiv consensus estimates: 

  • Revenue: 144.18 billion Chinese yuan ($22.62 billion) vs 147.6 billion yuan, up 8% year-on-year. That’s the slowest revenue growth since the company went public in 2004.
  • Profit attributable to…

Source cnbc.com

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