Tencent Beats Estimates, Signaling the Worst Is Behind It

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Tencent Beats Estimates, Signaling the Worst Is Behind ItTencent and its internet arch-foe Alibaba Group Holding Ltd. are struggling to sustain their growth as China itself looks increasingly fragile. “Missing consensus top-line estimates is not ideal, but the bright spot is growth came where it mattered -- in games, which is their most profitable segment,” said Vey-sern Ling, an analyst at Bloomberg Intelligence. Shares of Tencent have gained 19% this year, lagging a 28% rise for New York-listed Alibaba.

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