RPT-Tencent's Q3 ad revenue in focus as games business slows on China crackdown [Reuters]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
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Source: Reuters
RPT-Tencent's Q3 ad revenue in focus as games business slows on China crackdown | Reuters 4 Min Read (Repeats Tuesday’s story with no changes to text) * Results due on Wednesday * Tech giant expected to post 7 pct rise in Q3 profit * Revenue forecast to grow at slowest pace in over 3 years * About $162 bln wiped off Tencent market cap this year By Sijia Jiang HONG KONG, Nov 13 (Reuters) - Tencent Holdings is expected to report a small rise in quarterly net profit on Wednesday, with a steady gain in advertising revenue helping offset a slump in its core gaming business caused by a prolonged regulatory crackdown. China, the world’s biggest gaming market, stopped approving new games since March amid a regulatory overhaul, leading to Tencent reporting its first profit decline in more than a decade in the June quarter. Tencent is now cutting the marketing budget for the gaming division. Its shares, which more than doubled in 2017, have dropped by about a third so far this year, wiping abou
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