Tencent reports first revenue drop as China clamps down on game approvals

Tencent reports first revenue drop as China clamps down on game approvals

Photo: REUTERS/Jason Lee/File Photo

China’s Tencent Holdings suffered its first-ever quarterly sales fall on Wednesday, hurt by a government clampdown on game approvals and playing time as well as COVID-19 lockdowns and a weakening economy that squeezed ad sales.

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