Shenzhen-based tech giant Tencent’s third-quarter profit fell significantly short of analysts’ forecasts
Tencent Holdings Ltd.’s profit slid as slowing economic growth in China and rising competition ate away in crucial areas such as advertising.
The world’s largest videogame company by revenue, which also includes social-networking app WeChat, reported a 13% drop in third-quarter profit from a year earlier, to 20.4 billion yuan —short of the 24.4 billion yuan forecast of analysts polled by FactSet.
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