Tencent on Wednesday reported a surge in profit for the second quarter, but missed expectations.
Tencent is now starting to see the benefits of the cost-cutting drive it embarked on last year, when it exited non-core businesses and tightened marketing spending.
But the weaker than expected revenue growth continues to reflect the turbulent Chinese economy which has failed to recover after the pandemic as strong as many had thought. on Wednesday reported a weaker-than-expected surge in profit for the second quarter, as cost-cutting measures began to pay off and sales rose across the company's various businesses.Revenue: 149.21 billion Chinese yuan vs. 151.73 billion yuan expected, representing a rise of 11% year-on-year.
Profit attributable to equity holders of the company: 26.17 billion Chinese yuan vs 33.42 billion yuan. That is a 41% year-on-year rise.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Asia markets fall as bank stocks retreat under pressure on Wall StreetChina will see a fresh batch of economic data on Wednesday, its July house prices.
Weiterlesen »
NY Fed: Year-ahead expected inflation drops to 3.5% in July, lowest since April 2021The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation
Weiterlesen »
China-focused ETFs drop as country’s property woes highlight ‘recession risks in China are real’China’s disappointing economic data and fresh worries over the country’s property sector are weighing on investors.
Weiterlesen »
Greeley man sentenced to life in prison after killing roommate in 2021A Greeley man was sentenced to life in prison for killing his roommate in June of 2021 following an argument.
Weiterlesen »
Florida man gets 30 years for 2021 fatal shooting in Jersey CityThe sentence was handed down Monday by Hudson County Superior Court Judge Carlo Abad, who also presided over the two-week trial.
Weiterlesen »
Michigan man pleads guilty to assaulting police officer in January 2021 US Capitol attackA Michigan man has pleaded guilty to assaulting a police officer during the January 2021 attack on the U.S. Capitol. The U.S.
Weiterlesen »