Tencent Holdings announced its second quarter financial results on the 17th.revenueRMB 134 billion, down 3% year-on-year, netBenefitRMB 18.6 billion, an annual decrease of 56%, and the financial report performance was worse than expected.
Although the legal entity has already expected Tencent’s profit to decline, the company’s earnings report still fell slightly short of market expectations. Previously, several brokerage institutions estimated that Tencent’s net profit was generally around 25 billion yuan.
It is understood that Tencent’s revenue growth rate began to decline after reaching its peak in 2020. Net profit continued to expand after a 2% annual decrease in the third quarter of 2021. In the fourth quarter of 2021, its profit declined 25% annually. Profit decreased 34% year-over-year. Unsurprisingly, a further drop in Tencent’s net profit jumped to 56% in the second quarter.