Internet giant Tencent Holdings warned of headwinds in China’s online advertising industry. Photo: Reuters
Tencent posts better-than-expected first-quarter earnings on strong gaming growth
- Shenzhen-based Tencent reported a net profit of US$4.1 billion in the first quarter, up 6 per cent from a year earlier
- The results come amid the uneven recovery of China’s economy, which shrank for the first time in nearly four decades
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Internet giant Tencent Holdings warned of headwinds in China’s online advertising industry. Photo: Reuters