© Reuters. FILE PHOTO: People visit a booth of Tencent during the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Tingshu Wang/File Photo
By Josh Ye
HONG KONG (Reuters) – China’s Tencent Holdings (OTC:) posted a 7% rise in fourth-quarter revenue on Wednesday, trailing analysts’ expectations, as China’s economic slowdown takes a toll.
The world’s largest video game company and operator of the WeChat messaging platform said revenue reached 155.19 billion yuan ($21.56 billion) for the three months ended Dec. 31. That compared with the 157.2 billion yuan average of 23 analyst estimates compiled by LSEG.
For all of last year, Tencent’s revenue rose 10% to 609 billion yuan, which trails expectations at 612.2 billion yuan.
($1 = 7.1995 renminbi)
