Tencent Holdings’s revenue grew at the slowest pace since its 2004 listing, showing the financial toll of China’s crackdown on its most lucrative businesses from gaming to advertising.
Revenue rose 8 per cent for the three months ended December — the first time that quarterly sales have grown by single-digits.
Online advertising sales missed analysts’ projections after they declined for the first time on record. And domestic gaming revenue grew a mere 1 per cent — reflecting curbs on playtime for minors that have sapped Tencent’s biggest division.
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