Source: Pixabay
Chinese tech giant Tencent on Wednesday posted its first drop in quarterly revenue since going public, an earnings statement said, as the company grapples with China’s economic downturn, pandemic disruptions and ongoing scrutiny from regulators.
Revenue in the second quarter fell three percent to 134 billion yuan ($19.8 billion) compared with the year before, while profits plunged by 56 percent to 18.6 billion yuan.