Tencent share price falls after first profit drop in 10 years

Jamie McKane

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Tencent share price falls after first profit drop in 10 years

Tencent Holdings Ltd. slumped after the Chinese social media giant reported shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain.

Tencent surprised investors with its first profit drop in at least a decade after a freeze on new game approvals in China as the regulators are restructured.

[Bloomberg]
 
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