Tencent’s Profit Growth Slows After China Tightens Games Rules

Tencent Holdings Ltd. ’s third-quarter profit edged up 2.5% compared with the same period in 2020, a significant slowdown from earlier this year amid soft advertising income and continued weakness in its games business.

The company, in its quarterly earnings release, played up its commitment to China’s policy of common prosperity, and highlighted its efforts to ensure compliance with new games regulations amid heightened regulatory scrutiny on the broader technology sector.