Tencent Earnings Meet Estimates, Revenue Falls Short As Growth Slows

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Tencent Holdings ( TCEHY ) reported first-quarter results Wednesday that met on earnings but missed revenue estimates as growth slowed for the China internet giant. The quarter ended with 1.1 billion users on its WeChat platform, the largest messaging service in China. The company said China Internet users are increasingly using WeChats in-app camera functions to record short videos. Tencent broke out revenue numbers for its financial technology and business services unit for the first time. " said Ma Huateng, Tencent chairman and chief executive, in prepared remarks with the earnings release.

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