5/18, 10:44 AM (Source: TeleTrader)
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Tencent's revenue unchanged YoY in Q1

Tencent Holdings Ltd. revealed on Wednesday that its total revenue for the first quarter of the fiscal year 2022 came in at approximately $21 billion (135.5 billion yuan), going below analysts' expectations. The figure was unchanged in comparison to the same period last year.

The Chinese tech company reported a net income of $3.5 billion (23.4 billion yuan) in the first trimester, a per annum decrease of 51%. Tencent's operating profit stood at $5.5 billion (37.2 billion yuan), marking an annual decline of 34%.

Tencent's online advertising revenue stood at $2.66 billion (17.98 billion yuan), falling 18% year on year and reflecting weak demand from advertiser categories.

Baha Breaking News (BBN) / AY