China's Tencent posts weak revenue growth, plans to double buybacks

China's Tencent posts weak revenue growth, plans to double buybacks

FILE PHOTO: People visit a booth of Tencent during the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Tingshu Wang/File Photo

China’s Tencent Holdings posted a weaker-than-expected 7% rise in fourth-quarter revenue on Wednesday as its gaming revenue shrank, and said it was expecting to at least double its share buybacks this year.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter