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DeepNewz, mobile.
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Tencent Holdings, the world's largest video game company, posted a weaker-than-expected 7% rise in fourth-quarter revenue, with gaming revenue declining in China. The company plans to double its share buybacks due to the impact of China's economic slowdown on its gaming and social media portfolios.
Tencent to focus more on in-house titles, deprioritizing third-party IPs in wake of gaming revenue slowdown https://t.co/bzj3fGiCYa #gamedev #gamedevelopment #gaming #gameart
Report: Tencent pivoting from licensed games to own works Tencent partially built its name on licensed games for series like League of Legends and PUBG, but it's now looking to focus on properties it actually owns. https://t.co/XSxSvaGkGw https://t.co/RYEy1aNKL5
Tencent reported weaker-than-expected results in the fourth quarter of 2023, as the WeChat operator and tech giant faced challenges growing its gaming business, particularly in China. https://t.co/7ogybGxbhY