Tencent says focus on cost-cutting, core business after first revenue fall

on Thursday said it would restrict its focus to its core business, while maintinaing cost-cutting and improving efficiencies, as it reported its first drop in annual revenue to date.

"We hope that our entire business management team and technology will be more focused," he said. "I think this is very important because we can see that focus and making breakthroughs are very key to overall development." China's city lockdowns intensified in the weeks to early December when the country abruptly ended its zero-COVID policy, unleashing a wave of infections, which heavily disrupted the economy and caused many deaths.

and XboxP3 revenue declined 13% hahahahhahahahaha

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Tencent Music’s Annual Revenues Fall 9.3% on Shrinking Social BusinessTencent Music Entertainment Group (TME) reported on Tuesday a 9.3% decline in the company’s annual revenues last year.
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