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Tencent lifts revenues in Q1 but profit growth slows amid pandemic

2020-05-13 14:45:00| Telecompaper Headlines

(Telecompaper) Tencent reported higher revenues for the first quarter, but also a slower profit growth as it faced headwinds caused by the coronavirus pandemic. The company said it allocated CNY 2 billion worth of donations to covid-19 relief initiatives in China and globally. Looking ahead, the company expects in-game consumption activities to normalise as people return to work. It also sees some headwinds in the online advertising industry.

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