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Tencent's profit halves in Q1 2022, its worst performance since 2004
short by Ashley Paul / on Wednesday, 18 May, 2022
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.
read more at Reuters