Thursday, August 18, 2022

Tencent sees first-ever decline in revenue, sacks 5500 employees

Chinese conglomerate Tencent has fired 5,500 employees, after posting a revenue of $19.8 billion in the June quarter, down 3 per cent which is the first decline since going public. https://ift.tt/2G3Rcz5

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Alibaba reports Q4 revenue up 3% YoY to ~$35.8B, below ~$36.3B est., and net income up ~100% to ~$3.7B, in part due to investments, as it seeks to monetize AI (Luz Ding/Bloomberg)

Luz Ding / Bloomberg : Alibaba reports Q4 revenue up 3% YoY to ~$35.8B, below ~$36.3B est., and net income up ~100% to ~$3.7B, in part du...