Tencent's quarterly results fall short on weak China consumption

HONG KONG -- China's most valuable company, Tencent Holdings, posted a slightly worse-than-expected quarterly result on Wednesday as domestic consumption remains weak.

In the July-September quarter, revenue of the Shenzhen-based company rose 8% on the year to 167.19 billion yuan ($23.1 billion), just missing the average forecast of 167.82 billion yuan from analysts surveyed by LSEG.