Profits Slide at China’s Tencent as 2023 Revenues Hold Steady

China’s social media, games and video giant Tencent saw 2023 revenues advance by 10% to $ 84.6 billion (RMB609 billion). But its net profits slid to $ 16.3 billion (RMB118 billion), down from $ 26.3 billion a year earlier. The group is directly affected by weakness in the mainland Chinese economy, which has recovered only slowly since the […]
Variety