China's Tencent falls 3% after disappointing earnings and scrutiny from Chinese regulators

China's Tencent falls 3% after disappointing earnings and scrutiny from Chinese regulators

6 years ago
Anonymous $oIHRkISgaL

https://www.cnbc.com/2018/08/16/tencent-falls-after-earnings-disappoint-but-pain-could-be-short-term.html

Tencent's stock was in focus after the company posted a quarterly earnings report on Wednesday that missed analyst expectations.

Thursday morning trade saw the Chinese tech giant's Hong Kong-listed stock sliding around 3 percent following the news. The company's profit for the quarter ending in June dipped 2 percent to 17.87 billion yuan ($2.59 billion), which was weaker than analysts had anticipated. That was also the first decline in profit for the company in almost 13 years.

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