Tencent feels bite of rival ByteDance, with slower revenue growth
The social media giant is trying to come back from a terrible 2018, when a regulatory clampdown hit its marquee games business
14 August 2019 - 17:38
Hong Kong — Tencent’s comeback is taking a little longer than expected.
China’s leading social media and gaming company posted disappointing revenue growth after rivals such as ByteDance and a broader economic slowdown sapped advertising. Online advertising revenue grew a worse-than-expected 16% as the internet wunderkind undercut Tencent’s efforts to load more ads into its WeChat super-app...
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