Gaming

Tencent Profit Battered by China’s Slow Pace of Videogame Approvals


HONG KONG—Chinese tech giant Tencent Holdings Ltd. said it is looking to expand overseas as videogame woes at home contributed to a 32% drop in its fourth-quarter profit, its sharpest ever year-over-year fall.

The Shenzhen-based company’s profit took a big hit from investments it is plowing into content and technology to diversify beyond its core videogame business, which contributed a shrinking amount to the company’s overall revenue.



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