Tech
Tencent Holdings Ltd. Reports Strongest Revenue Growth in Over a Year Driven by Gaming Hits and Announces Major Share Buyback Plan
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Tencent Holdings Ltd. posted its fastest pace of revenue growth in more than a year after a string of gaming hits helped China’s most valuable company overcome a persistent economic downturn.
Revenue for the three months ended December rose to 172.5 billion yuan ($23.8 billion) versus an average estimate of 168.7 billion yuan. Net income for the period came to 51.3 billion yuan, compared with projections for 43.9 billion yuan. The company also unveiled plans to buy back at least HK$80 billion worth of shares for 2025 and proposed a 32% rise in its…
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