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Is Tencent Holdings Stock a Buy Now?

TheMotleyFool

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Tencent Holdings (OTC: TCEHY) posted its first-quarter earnings report on May 18. The Chinese tech giant generated 135.5 billion yuan ($21.3 billion) in revenue, which stayed nearly flat from a year ago and missed analysts' estimates by 5.5 billion yuan. That represented the company's slowest year-over-year growth rate since its initial public offering in 2004.

Tencent's net profit declined 51% to 23.4 billion yuan ($3.7 billion), which also missed analysts' expectations by 5.1 billion yuan. On an adjusted basis, which excludes its investments and other one-time items, Tencent's net profit still fell 23% to 26.3 billion yuan ($4.1 billion).

Image source: Getty Images.

Source Fool.com

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