Tencent's net profit declined sharply in the fourth quarter


The world's largest Chinese investment Internet company, Tencent Holdings, at the end of the fourth quarter of last year, reported a decrease in net profit by 32% to 14 billion 230 million yuan. Experts had expected a decline to 17 billion 550 million yuan. The main reasons for such a sharp drop in profits were a reduction in revenue as a result of the moratorium imposed on the approval of new games in China, and increased competition. At the same time, revenue was higher than experts' forecasts, having increased by 28% to 84 billion 900 million dollars. At the same time, the company noted that the growth rate of revenue slowed down 2 times compared to a year ago. The growth in the price of services Tencent increased over the year by 43% mainly due to higher costs for the creation of the content. The company recorded a quarterly increase in revenue from social networks by 25%, from online advertising - by 38%.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong