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Tencent posted no revenue growth in Q1, net profits tumble 51% on year, amid regulatory uncertainty, economic headwinds

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Tencent HoldingsĀ reported almost no revenue growth for the first quarter and net profit tumbled more than 50% on year amid regulatory uncertainty surrounding big tech companies and economic headwinds amid the strict pandemic control measures.

The internet giant, posted a revenue of 135.5 billion yuan ($20 billion) in the quarter ended March 31, almost unchanged from 135.3 billion yuan a year ago.

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