China internet giant Tencent Holdings saw its advertising business grow rapidly in 2018, driven by a social-media ad explosion, but economic uncertainties dampened fourth-quarter growth.
Tencent’s net income registered 77.4 billion yuan US$11.6 billion in 2018, an increase of 19% year-on-year, whereas the fourth-quarter figure dropped 32% to 14.2 billion yuan $2.1 bilion, according to the financial statement the company released on Thursday.
Online advertising revenue surged 44% to 58.1...
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