2023-04-01 08:16:00 ET
Tencent (OTC: TCEHY) posted its fourth-quarter earnings report on March 22. The Chinese tech giant's revenue rose 0.5% year over year to 145.0 billion yuan ($20.8 billion), which still missed the consensus forecast by half a billion yuan.
But its net profit increased 12% to 106.3 billion yuan ($15.3 billion), which exceeded analysts' estimates by 27.6 billion yuan. Excluding a one-time gain of 106.6 billion yuan from its exit from the shopping platform Meituan (OTC: MPNG.Y) and other one-time items, Tencent's adjusted net profit grew 19% to 29.7 billion yuan ($4.3 billion).
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