Tencent Holdings's revenue grows at slowest pace in 2 decades

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.