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Tencent Second Quarter Revenue Up Lower-Than-Expected 19 Percent As Gaming Growth Slows

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A picture illustration shows a WeChat app icon in BeijingTencent Holdings Ltd , China's biggest social network and online entertainment firm, said second-quarter revenue rose 19 percent, slightly below estimates, as growth at its core gaming business slowed. Revenue for the quarter ending June rose to 23.43 billion yuan ($3.67 billion), Tencent said in it earnings statement on Wednesday, compared to the 24.12 billion yuan forecast made in a Thomson Reuters Smartestimate poll of 11 analysts. Revenue at the gaming unit grew 17 percent year-on-year in the quarter, a slowdown from the previous quarter's 29 percent growth, Tencent said.




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