Tencent Holdings (TCEHY) has announced plans for a stock buyback program after missing revenue expectations in its fourth quarter results. The company attributed a portion of the revenue slump to a slowdown in its gaming revenue segment, which has traditionally been a significant growth driver. Yahoo Finance's Rachelle Akuffo and Akiko Fujita break down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
Tencent Holdings (TCEHY) has announced plans for a stock buyback program after missing revenue expectations in its fourth quarter results. The company attributed a portion of the revenue slump to a slowdown in its gaming revenue segment, which has traditionally been a significant growth driver.
Yahoo Finance's Rachelle Akuffo and Akiko Fujita break down the details.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
Reuters
HONG KONG (Reuters) -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. Tencent's core gaming business suffered a notable slowdown in the fourth quarter. Gaming revenue in China declined 3% to 27 billion yuan, while international gaming revenue increased only 1% to 13.9 billion yuan, or declined by 1% when excluding currency fluctuations.
Bloomberg
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