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Tencent Q4 profit falls 35% on investment costs, revenues up 28%

2019-03-21 12:28:00| Telecompaper Headlines

(Telecompaper) Tencent reported revenues of CNY 84.9 billion for the fourth quarter, up 28 percent from a year earlier as growth in social networks, payments and online content helped offset flat revenues from gaming. The company's net profit fell 35 percent to CNY 14.0 billion, due to costs for the IPO of Tencent Music and several disposal gains in the year-earlier period. Adjusted EBITDA rose 18 percent to CNY 29.7 billion.

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