Tencent Holdings reported its slowest quarterly revenue growth since its IPO in 2004 during its Q4 2021 results. Q4 revenues rose 8% YoY to RMB 144.2bn ($ 22.6bn) as it was impacted by China’s regulatory clampdown on the domestic technology sector. Profit attributable to equity holders rose 60% to RMB 94.95bn ($14.9bn) on a one-time gain on disposal of assets. For full-year, revenue grew 16% to RMB 560.1bn ($ 87.9bn) and profit attributable to equity holders rose 41% to RMB 224.8bn ($35.3bn). Total cash stood at RMB 281.3bn ($44.1bn) at end-December 2021. Q4 domestic revenues grew by 1% to RMB 29.6bn ($4.6bn) as the domestic games market faces regulatory challenges – China cut the amount of time children under 18 could play online games for and also has not approved new games launched in the past 8 months. The company has thus increasingly focused on overseas markets and international games as revenue rose 34% to RMB 13.2bn ($ 2.1bn). Online Advertising revenue was down by 13% YoY.
Tencent’s dollar bonds were trading slightly higher with its 3.8% 2025 up 0.10 points to 100.62, yielding 3.57%.
For the full story, click here
