Tencent Holdings Ltd.’s revenue growth accelerated after the blockbuster summer release of Dungeon & Fighter Mobile helped lift China’s most valuable company out of a gaming trough.
Tencent Holdings Ltd.’s revenue growth accelerated after the blockbuster summer release of Dungeon & Fighter Mobile helped lift China’s most valuable company out of a gaming trough.
But Tencent faces unusually strong competition in China’s $40 billion-plus gaming arena this summer. NetEase Inc. and Genshin Impact studio Mihoyo both unveiled games that’ve gathered strong initial momentum against their deeper-pocketed rival. Tencent’s gross margins mainly improved across the board, thanks to the super-app WeChat which channeled a billion-plus users to services from mini-games to advertising and video shopping feeds.
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