Tencent's revenue falls for the second quarter in a row

The Chinese giant Tencent continues to report a decline in revenue. In the third quarter, its revenue fell by 2% to $19.7 billion. This is $225 million lower than analysts expected.

The company received the same operating profit as last year — $5.8 billion.

Tencent’s revenue from international games increased by 3% to $1.6 billion. But revenue from Chinese games fell by 7% to $4.5 billion. Tencent noted the successes of Valorant, Tower of Fantasy and CrossFire, but also pointed out that the revenues of Honor of Kings and PUBG Mobile fell.

In July, the total time that underage gamers spent in Chinese Tencent games decreased by 92% compared to 2021. They accounted for 0.7% of the total playing time.

At the end of September, Tencent employed 108,836 people — 1,879 fewer than at the end of June.