18 days ago • Posted by William Ramstein
Tencent falls behind competitors as revenue growth discourages investors
Revenues from online games rose 29% in Q4-- the slowest pace in a year. That may spur concerns about the longevity of the pandemic-era global gaming boom. Sales from social networks climbed 27%, in part after Tencent consolidated contributions from Huya Inc. Online advertising revenues increased 22%. Fintech and businesses -- the division that oversees Tencent’s various money businesses as well as cloud -- saw revenue climbed 29%, due primarily to growth in payments and wealth management services.