Tencent profits jump nearly 30% as China continues historic tech crackdown
CNN
Tencent reported a 29% rise in second-quarter profit, even as Beijing expands its scrutiny of the private sector.
The Chinese gaming and social media giant said Wednesday that revenue jumped 20% to 138.3 billion yuan ($21.3 billion) for the three months ended June, compared to the same period last year, while profit rose to 42.6 billion yuan ($6.6 billion). Tencent (TCEHY) reported results as the company and other Chinese tech firms are being rattled by Beijing's historic crackdown on the sector.More Related News