Tencent’s third quarter profits edge up 3 per cent amid regulatory crackdown, gaming licence freeze

Source: Tech – South China Morning PostTencent Holdings, China’s biggest social media and gaming business, reported better-than-expected profits for the third quarter of 2021, beating estimates of 32.6 billion yuan (US$5.1 billion) to report a 3 per cent increase from the same period a year ago as it faces regulatory uncertainty from the country’s scrutiny over gaming and Big Tech companies.The Hong Kong-listed company on Wednesday reported a net profit of 39.5 billion yuan in the quarter ended September, up from 38.54 billion yuan…Read More

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