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Tencent Profit Plunges 51% Amid China Covid Surge, Revenue Flat – News07trends

News Snapshot:

Signage for Tencent Holdings atop an entrance to an workplace constructing in Shanghai final month. … [+] Photographer: Qilai Shen/Bloomberg © 2022 Bloomberg Finance LP China Web heavyweight Tencent mentioned on Wednesday web revenue fell by greater than half within the first three months of the 12 months and income was flat as a surge of Covid within the nation hit particular person and companies customers. Web revenue was 23.4 billion yuan, or $3.5 billion in contrast with 48.8 billion yuan a 12 months in the past. Income as little modified at 135.4 billion yuan in contrast with 135.3 billion…

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