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Tencent profit declines sharply, warns of slower game launches
- Friday | 22nd March, 2019
Tencent will seek to grow gaming revenue from overseas markets by exporting its games as well as investment, Lau said. Tencent’s total revenue in the quarter rose 28 percent to 84.9 billion yuan, slightly ahead of an average estimate of 83 billion yuan from 19 analysts. Lau was referring to a segment that included Tencent’s new cloud business, which posted its first annual revenue of 9.1 billion yuan ($1.36 billion). Lau added Tencent will add a new revenue category in its next earnings report to reflect the contribution from such fast-growing new businesses. “Our revenue mix is getting increasingly diversified, with fast growth from performance-based advertising and ‘other’ revenues,” Tencent President Martin Lau said on Thursday.
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