Tencent Tops Revenue View With 11% Growth, But Profit Stalls as Capex Surges 65%

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‼️ Tencent Holdings Ltd.’s revenue grew a faster-than-projected 11%. Revenue for the three months ended June climbed to 204.8 billion yuan ($30.4 billion), beating the average analyst forecast by about 1%. Net income however barely rose, depressed by a one-time accounting loss. Tencent’s capital expenditures in the quarter soared more than 65% from the previous three months.
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