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Media & Entertainment

Tencent records lowest quarterly revenue growth since 2004 IPO

Chinese gaming and messaging group to slash hiring

Online advertising revenues fell 13% in the fourth quarter for Tencent amid regulatory pressure on key client sectors.     © Reuters

HONG KONG -- Tencent Holdings has reported its slowest quarterly revenue growth since its listing 18 years ago due to pressure on its gaming and advertising revenues from regulators.

Total revenues for the Shenzhen-based company rose 8% in the October-December quarter from a year before to 144.2 billion yuan ($22.65 billion).

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