Tencent Stock Falls After Earnings Disappoint | Fox Business

LOS ANGELES – Shares of Tencent Holdings Ltd. moved off their opening lows but held to losses Thursday morning, after the online major's earnings printed below expectations. Tencent was down 1.2% late in the morning session, after reporting a 46% gain for its third-quarter net profit compared to the year-earlier period. Despite the strong profit growth, the result trailed expectations for a 57% increase, according to a Wall Street Journal survey of analysts. Losses for Tencent stock, a heavily weighted component on the Hang Seng Index , helped drag on the broader market, with the benchmark index sitting flat.