Tencent Signals Gradual China Recovery After Gaming Arm Revives
- Net income for the September quarter beat analyst estimates
- Tencent kicks off a busy earnings season for China tech
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Tencent Holdings Ltd. described tentative signs of a Chinese economic bounce-back after Beijing unveiled a plethora of stimulus measures, addressing investors’ fears about the trajectory of the world’s No. 2 economy.
President Martin Lau said payment transactions ticked up in October, reversing months of decline, after the government in September trotted out myriad policies to revive consumer confidence. But he cautioned that the various steps will take time to implement, suggesting a recovery won’t be immediate.