Chinese language gaming big Tencent books 13% third quarter revenue drop, misses estimates

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FILE PHOTO – Tencent headquarters is seen at Nanshan Hello-Tech Industrial Park within the southern Chinese language metropolis of Shenzhen June 9, 2011. Information/Bobby Yip

BEIJING (Information) – Chinese language gaming and social media big Tencent Holdings Ltd mentioned on Wednesday web revenue in its third quarter dropped 13%, lacking analysts’ estimates, hit by falling media promoting and PC video games income.

The world’s largest gaming agency by income booked a 20.38 billion yuan ($2.91 billion) revenue for the three months by means of September. That in contrast with the 23.45 billion yuan common of 15 analyst estimates compiled by Refinitiv.

Income rose 21% to 97.2 billion yuan, versus the 98.2 billion yuan common estimate of 17 analysts.

Reporting by Pei Li and Brenda Goh; Enhancing by Christopher Cushing & Kim Coghill