BREAKINGVIEWS-At least Tencent can retreat into a virtual world

Reuters11-14

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.)

By Robyn Mak

HONG KONG, Nov 14 (Reuters Breakingviews) - The Chinese titan's hits like "Dungeon & Fighter Mobile" helped power a one-third rise in adjusted quarterly earnings to $8 bln. Outside of gaming, though, fintech and cloud services barely grew. Consumers and companies are holding back splurging in the real world.

Full view will be published shortly.

Follow @mak_robyn on X

CONTEXT NEWS

Tencent on Nov. 13 reported revenue of 167.2 billion yuan ($23.1 billion) in the three months to end-September, an increase of 8% from a year earlier. Adjusted earnings rose 33% to 59.8 billion yuan in the period.

Revenue from domestic games increased by 14% year-on-year to 37.3 billion yuan, while revenue from the company's fintech and business services, which includes Tencent's mobile payment wallet, rose 2% to 53.1 billion yuan.

Tencent's Hong Kong shares were up 2.4% to HK$413.60 during morning trading on Nov. 14.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on robyn.mak@thomsonreuters.com))

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