SINGAPORE— Tencent Holdings Ltd., the Chinese social-media and videogame behemoth, said its revenue in the fourth quarter slowed to its weakest pace in nearly two decades, as a yearlong regulatory crackdown on China’s technology sector and weakening consumption weighed on sales.
The world’s largest videogame developer said Wednesday revenue for the October-to-December period rose 7.9% to 144.19 billion yuan, equivalent to $22.65 billion. That missed expectations of analysts polled by FactSet and marked the company’s worst top-line growth since it went public in 2004.
