{"id":2002432,"date":"2023-08-16T12:42:02","date_gmt":"2023-08-16T16:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-tencent-posts-smaller-than-expected-revenue-growth-gaming-falls-short\/"},"modified":"2023-08-16T12:48:18","modified_gmt":"2023-08-16T16:48:18","slug":"chinas-tencent-posts-smaller-than-expected-revenue-growth-gaming-falls-short","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-tencent-posts-smaller-than-expected-revenue-growth-gaming-falls-short\/","title":{"rendered":"Tencent&#8217;s revenue growth disappoints, gaming underperforms."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchinas-tencent-posts-smaller-than-expected-revenue-growth-gaming-falls-short%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2002432&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>China&#8217;s Tencent Holdings Posts Smaller-Than-Expected\u200c Rise in Q2 Revenue<\/h2>\n<p>By Josh Ye<\/p>\n<p>HONG KONG (Reuters) &#8211; China&#8217;s \u200bTencent\u2063 Holdings posted a smaller-than-expected \u206211% \u2064rise in second-quarter revenue on Wednesday, \u200bas the country&#8217;s\u2063 sputtering economic\u2062 recovery weighed on the social media and gaming giant&#8217;s recovery \u200cfrom \u200clast year&#8217;s record downturn.<\/p>\n<p>The world&#8217;s largest video game \u2062company and \u2062operator of the\u200c WeChat messaging platform said revenue reached 149.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tesla-byds-china-deliveries-hit-record-high-in-q2\/\" title=\"Tesla and BYD achieved record-breaking delivery numbers in China during the second quarter.\">20 billion yuan<\/a> ($20.45 billion) for the three months ended June 30. That compared with the 151.73 billion yuan average of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tsmc-q3-profit-jumps-80-beats-market-expectations\/\" title=\"TSMC Q3 profit jumps 80%, beats market expectations\">21 analyst estimates compiled<\/a> by Refinitiv.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Revenue growth was little changed from a 10.7% rise in the first\u200b quarter. Tencent posted a 1% revenue drop in the same period last year,\u200d when it reported its first\u200b ever sales decline, hit by Beijing&#8217;s bruising regulatory \u200ccrackdown on its sprawling tech sector.<\/p>\n<p>Regulatory \u200dconcern has eased this year for China&#8217;s tech giants, \u2064including Tencent, with Chinese authorities keen\u200d to boost\u2062 private sector confidence.\u2062 But the world&#8217;s second-largest economy failed to surge after it lifted \u2062COVID-19 restrictions late last year.<\/p>\n<p>Net profit rose 41% to 26.17 billion yuan as\u2062 compared to the same period last year. \u2064But\u200c it fell under\u2062 the \u206433.41 billion yuan average analyst\u200b estimate.<\/p>\n<p>Tencent&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-tencent-posts-smaller-than-expected-revenue-growth-gaming-falls-short\/\" title=\"Tencent's revenue growth disappoints, gaming underperforms.\">core gaming \u200bbusiness experienced weaker-<\/a>than-expected growth in the second quarter. \u200dDomestic\u2064 gaming revenue stayed mostly\u200d flat at \u206431.8 billion\u200c yuan, while international gaming revenue \u2064rose 12% to 12.7\u200d billion\u2063 yuan, excluding the impact \u200bof currency\u200c movements. <\/p>\n<p>Shawn Yang, an analyst at Blue Lotus \u200cCapital Advisors, said while Tencent&#8217;s old hits\u200c have delivered sub-par\u200d revenues due to lack of content, its new games are facing fierce competition from rival publishers such as NetEase Inc and miHoYo.<\/p>\n<p>Revenue from online ads stood out\u200b as one of the bright spots. It grew 34% to 25 billion yuan\u2063 as\u2064 its TikTok-like \u200dshort video service Video Accounts experienced increased demand. <\/p>\n<p>Revenue from fintech and business\u200b services grew 15% to 48.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-digital-currency-passes-100-billion-yuan-in-spending-pboc\/\" title=\"China\u2019s digital currency passes 100 billion yuan in spending \u2013 PBOC\">6 billion yuan<\/a> which the company said reflected expansion in both offline \u200band online payment activities.<\/p>\n<p>  (Reporting by\u2062 Josh Ye; Editing by Himani Sarkar and \u2064Raju Gopalakrishnan)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chinas-tencent-posts-smaller\/attachment\/file-photo-tencent-headquarters-in-shenzhen\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>President &#8216;Biden&#8217; Comments\u2064 on the Maui Disaster<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Growing\u2064 Criticism of President Joe Biden&#8217;s Handling of Major Issues<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Headlines Dominated by\u2063 4th Trump Indictment, Maui Wildfires, and\u2062 Vivek\u200c Ramaswamy&#8217;s Performance<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Trump Promises Irrefutable \u2064Report, \u2063Brian Kemp Ensures\u200b Georgia&#8217;s Election Security<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>China&#8217;s\u2063 Tencent Holdings Posts\u200b Smaller-Than-Expected Rise in Q2 \u2063Revenue<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Two Pinterest\u2062 Directors Resign from Nextdoor&#8217;s Board of\u200b Directors<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>PayPal to Stop \u2062Allowing UK Customers to Buy Cryptocurrencies<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Tencent Holdings reported a lower-than-anticipated 11% increase in Q2 revenue due to the country&#8217;s sluggish economic recovery. The company, known for its social media and gaming services, struggled to bounce back from last year&#8217;s significant decline. Despite being the world&#8217;s biggest video game firm and WeChat messaging platform operator, Tencent&#8217;s revenue fell short.<\/p>\n","protected":false},"author":66,"featured_media":2002433,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2002432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2002432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2002432"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2002432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2002433"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2002432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2002432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2002432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}