(Tencent) Tencent Holdings Limited posted revenue of RMB144.19 billion or US$22.62 billion in the fourth quarter of 2021, up 8% from the prior year.
The revenue increase in the fourth quarter was the narrowest in the company’s record and was lower than projections of RMB 147.6 billion.
For FY21, Tencent’s revenues were RMB560.12 billion or $87.85 billion, up 16% from the prior year. The revenue missed estimates of RMB566.3 billion.
The slowed revenues increase reflected ongoing crackdowns by Beijing on tech and online firms, with Tencent having lost about $470 billion in market value from its peak at the start of 2021.
Tencent said that the profit attributable to the equity holders of the company was RMB 94.96 billion in the fourth quarter, up 60% from the prior year. The profit reflected a large one-time gain from the disposal of assets.
0700: HKG is up +0.26%
