Tencent Growth Rate Declines Due to Economic Weakness in China
Tencent Holdings (OTC: TCEHY) might not be a household name in the U.S., but the company is ubiquitous in its native China. Its WeChat social messaging platform is one of the most frequently used apps in the Middle Kingdom, and Tencent is the world's largest video game publisher.
The company reported its third-quarter earnings on Wednesday morning to lukewarm expectations. Investors have been waiting for a turnaround from Tencent, which took a hit when the Chinese government imposed a temporary moratorium on new video games over a period of nine months in 2018. Unfortunately, a slowing Chinese economy in 2019 has added insult to injury, and Tencent's turnaround has suffered a delay of game.
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Source Fool.com
