Tencent to step up global games expansion after posting 13 per cent decline in quarterly profit

  • Third-quarter revenue increased 21 per cent to 97.2 billion yuan, but it was still below analysts’ estimate of 99 billion yuan

A Tencent Holdings sign is seen at the World Internet Conference in Wuzhen, Zhejiang province, on October 20. Photo: Reuters

Internet giant Tencent Holdings aims to step up international expansion through its growing video games empire, which could receive a boost with the roll-out of ultra-fast 5G mobile services that enable more advanced applications.

Tencent, which already runs the world’s biggest video games business by revenue, revealed plans to strengthen its presence in international markets, after the Hong Kong-listed company reported on Wednesday lower-than-expected earnings in the third quarter.

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