Tencent failed to increase quarterly revenue for the first time in 18 years

The Chinese giant Tencent continues to set anti-records. In a recent financial report, the company reported that it earned $20.1 billion in the quarter — the same as a year ago. For reference: since 2004, when Tencent went public, its revenue has been constantly growing.

However, for the last six quarters in a row, Tencent’s revenue growth has slowed down. Therefore, the current result is partly expected (although analysts predicted slightly higher quarterly revenue of $20.9 billion).

Tencent’s operating profit for the quarter fell 34% to $5.5 billion.

The games brought the company $6.47 billion. Their total revenue has not changed compared to last year. Foreign titles, especially Valorant and Clash of Clans, helped to keep this figure at the same level.