Tencent says it will keep cutting costs as annual revenue drops for the first time in 2022

Tencent says it will keep cutting costs as annual revenue drops for the first time in 2022

Photographer: Qilai Shen/Bloomberg

Tencent Holdings on Thursday vowed to keep cutting costs and work on increasing efficiencies as it reported a drop in annual revenue for the first time ever, with its founder saying the company would stay focused on its core business.