Tencent profit falls 32% as costs rise
HONG KONG–Tencent Holdings Ltd. Thursday reported a 32% drop in fourth-quarter net profit as higher costs weighed on earnings. The Chinese tech titan reported earnings of 14.23 billion yuan ($2.13 billion), down from the 20.80 billion yuan earned during the same period a year earlier. Analysts polled by S&P Global Market Intelligence expected fourth-quarter net profit of CNY17.72 billion.
Source : MTV
