Tencent Holdings Ltd.’s comeback is taking a little longer than expected. The Chinese social media giant’s shares tumbled more than 4% after quarterly revenue fell short of analysts’ projections.
China’s leading gaming company posted disappointing growth after rivals like ByteDance Inc. and a broader economic slowdown sapped advertising. Online ad revenue grew a worse-than-expected 16% as the internet wunderkind undercut Tencent’s efforts to load more ads into its WeChat super-app.
