, Columnist
Tencent May Be Too Awesome for Its Own Good
Strength is a weakness when you’re on the radar of China’s antitrust authorities.
Investors may love WeChat owner Tencent’s latest results, but antitrust officials? Not so much.
Photographer: Ivan Abreu/BloombergThis article is for subscribers only.
Tencent Holdings Ltd. just turned in an impressive quarter, reporting record net income that beat estimates by the most in two years. But the timing is a bit unfortunate.
Having ridden through the Covid-19 storm relatively unscathed, the Chinese games and social media giant must now navigate the country’s antitrust regulators. So perhaps this isn’t the best moment to show how savvy and powerful it is.