5 Reasons Tencent’s Q1 Earnings Beat Didn’t Boost Its Stock
Tencent (OTC:TCEHY) recently posted strong first-quarter earnings that easily beat analysts’ expectations. The Chinese tech giant’s revenue rose 25% year-over-year to 135.3 billion yuan ($20.6 billion), while its adjusted net income increased 22% to 33.1 billion yuan ($5.0 billion).
Tencent’s stock only rose slightly after the report, and it remains more than 20% below its 52-week high. Let’s review the five main reasons investors shrugged after the company’s latest earnings beat.
1. The slower…
