Tencent, the $370 billion Chinese tech giant, posts first ever revenue decline

Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid-19 in the world’s second-largest economy hit the technology giant.

Here’s how Tencent did in the second quarter, versus Refinitiv consensus estimates: 

• Revenue: 134.03 billion Chinese yuan ($19.78 billion) vs. 134.6 billion yuan expected, a decline of 3% year-on-year.
• Profit attributable to equity holders…