Tencent Posts First Revenue Drop Since 2004 IPO

SINGAPORE—Tencent Holdings nearly two-decade growth streak came to an end after the Chinese social-media and videogame giant posted its first quarterly revenue decline since it went public in 2004.

Tencent’s April-June revenue dropped 3% from a year earlier to the equivalent of $20 billion, the company said Wednesday, as China’s slowing economy further dented its online-advertising revenue, while its videogame business continued to struggle from tighter regulations and weaker user spending.