Tencent's profit halves in Q1 2022, its worst performance since 2004

China's Tencent said its profit had halved YoY and it recorded no revenue growth in Q1 2022, its worst performance since 2004. Tencent's revenue in Q1 2022 was ¥135.5 billion (₹1,55,959 crore) as compared with ¥135.3 billion (₹1,55,728 crore) in Q1 2021. This comes after China launched a regulatory crackdown last year to reign in influence of large internet firms.