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Tencent Of China Falls Short

Tencent announced a weaker-than-anticipated increase in earnings for the second quarter on Wednesday as revenues increased across the company’s many sectors and cost-cutting measures started to bear fruit.

Comparing actual results to Refinitiv consensus forecasts for the second quarter, Tencent did as follows:

Revenue: 149.21 billion Chinese yuan ($20.46 billion), up 11% from the previous year’s 151.73 billion yuan projected.
26.17 billion Chinese yuan in profit vs 33.42 billion Chinese yuan were attributable to the company’s equity investors. That is an increase of 41% from the previous year.

Source (CNBC)

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