Chinese tech giant posts first ever revenue decline

Tencent recorded its first-ever quarterly decline in year-over-year revenue as tougher gaming regulations in China and a resurgence of Covid-19 in the world’s second-largest economy hit the tech giant. Here’s how Tencent fared in the second quarter, compared to consensus estimates from Refinitiv: Revenue: 134.03 billion Chinese yuan (19.78 billion dollars) against 134.6 billion yuan …

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