Translating...
Content is automatically generated by Microsoft Azure Translator Text API. CGTN is not responsible for any of the translations.
Share
Copied
Tencent's booth at the 5th China International Import Expo (CIIE) in Shanghai, China, November 10, 2022. /CFP
Chinese tech giant Tencent saw a slight revenue decline and rise in profit in the third quarter, according to the company's financial statement released on Wednesday.
The Hong Kong-listed company raked in about 140 billion yuan ($19.9 billion) in revenue in the third quarter, down 2 percent year on year.
Its net profit in the period reached 32.3 billion yuan, up 2 percent year on year, ending a four-quarter decline.
Tencent's revenue from domestic video games in particular dropped 7 percent "as transitional industry challenges resulted in lower paying user counts."
Meanwhile, the company announced in a separate statement that it would return capital to shareholders through a dividend distribution of its $20.3 billion stake in Meituan, a food delivery company in China.
Tencent said it made the decision because it judged that Meituan had now "attained a robust level of financial strength, industry positioning, and investment returns."
(With input from AFP)
RELATED STORIES
14:10, 04-Apr-2025
13:33, 07-Apr-2025
World
13:03, 09-Apr-2025
MORE FROM CGTN
Politics
15:01, 22-Apr-2025
China
13:18, 22-Apr-2025
China
12:06, 22-Apr-2025
Economy
10:32, 22-Apr-2025
TOP NEWS
Politics
04:07, 22-Apr-2025
Economy
13:05, 22-Apr-2025
North America
23:00, 21-Apr-2025
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466