Tencent Disastrous 1Q22 Results
Tencent reported 0% growth in revenue and 50% drop in profits from a year ago in its 1Q22 results.
The earnings decline is not a big issue because they are non-cash in nature.
The bigger concern is with the flat revenue. In fact, the revenue declined from a quarter ago, a first in the past three years!
There were many issues that plagued Tencent - regulations, lockdowns and reopening in other countries.
These seem like temporary issues and we would have to see future quarters' performances to determine if Tencent has stop growing and turning into a mature stock.
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