China’s Tencent misses expectations despite fastest profit rise since late 2021
Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent on Wednesday reported a surge in profit for the second quarter, but missed expectations, as its cost-cutting measures began to pay off and sales rose in its core gaming business and cloud and fintech unit.