Tencent’s Growth Remains Stable as It Counters Coronavirus Headwinds
Chinese tech giant Tencent (OTC: TCEHY) recently posted its fourth-quarter earnings, which remained fairly stable as it approached the novel coronavirus crisis, which intensified in the first quarter.
Tencent's revenue rose 25% annually to 105.8 billion yuan ($15.2 billion), beating estimates by 2.1 billion yuan. Its net profit grew 52% to 21.6 billion yuan ($3.1 billion) but missed the consensus forecast by 1.2 billion yuan.
On a non-GAAP basis -- which excludes acquisitions, investments, and divestments -- Tencent's net profit rose 29% to 25.5 billion yuan ($3.7 billion). Those growth rates remain robust, but how will Tencent's business fare in the first quarter and the rest of the year?
Source Fool.com
