The report also highlighted the steady number of daily active users for its mobile games despite a drop in monetization, citing how Arena of Valor has more than 13 million DAUs and generated over $30 million per month outside China for the first half of the financial year.
The company's second quarter net profit fell 2 percent from the same period a year earlier to $2.7 billion. The critics believed that the game is quite addictive, and hence, the company had to add in-game spending limits for underage account holders. "This is something which is a little bit out of (our) control".
The decision has battered shares of market leaders like Tencent, which have plunged since the company was ordered to remove hit game "Monster Hunter: World" from sale only days after its debut. Mobile gaming revenue dropped 19 per cent from the first quarter.
"The results were really bad", said Benjamin Wu, a Shanghai-based analyst with consultancy Pacific Epoch.
Even if the regulators resume approvals immediately, the typical process takes about two to three months, signaling potential weakness in the third quarter for companies like Tencent. Bank of America Merrill Lynch analysts downgraded their ratings on the company's bonds and said they have higher regulatory risk than rival Alibaba Group Holding Ltd.
Of that, the revenue from PC games was CNY31.5 billion, a first-time decline, while mobile game income rose 13 percent from a year earlier, but this was a big drop from last year's increase of almost 50 percent.
Longer-term, Tencent still commands a powerful asset in WeChat, the ubiquitous messaging service that underpins its gaming and ads business. Advertising revenue jumped 39 per cent, while video subscription numbers doubled.
Still, it's rare for company officials to publicly suggest Beijing is to blame for anything, which is why it stood out that Tencent called out government actions for its profit weakness, said Asia Society senior fellow Isaac Stone Fish. It has resulted in new game licenses being frozen until the restructuring is complete. Although gaming revenue made up 40 percent of the revenue, it is also the business line that is causing the financial woes.
Tencent's core business, communications, is likewise hitting growth ceilings. "The deeper implication is that games will be slowing down and they need to find new areas of growth".
Revenue rose 30 percent to 73.68 billion yuan (8.4 billion pounds), lagging 16 analysts' average estimate of 77.5 billion yuan (8.8 billion pounds).
Procedures for games approvals in China were already complicated enough with watchdogs for media publication, cyberspace and copyright as well as ministries for culture and information technology all being part of the process.
Keita played a key role in Liverpool's convincing 4-0 demolition of West Ham on Sunday, and impressed his boss . The 35-year-old midfielder is now a free agent after being released by the reigning Premier League champions.
Samsung "hopes" the Galaxy Note 9 will sell better than the Galaxy Note 8 , thanks to the phone's top-end specifications. Samsung also previewed a new voice-assisted speaker, the Galaxy Home , using its homegrown digital assistant, Bixby.
During a recent monologue, Todd Starnes was glad Strzok was finally fired, but wondered why it took so long to happen. Francis Rooney, R-Fla., wished for a "purge" of Justice Department officials who don't like President Donald Trump .
Jim Mattis also stated that the Taliban fighters are still hiding in homes in the Ghazni City and are waiting to be resupplied. It comes as the latest in a wave of attacks that have killed hundreds of civilians, soldiers, and policemen over recent days.
After a 31-hour procedure, Katie Stubblefield emerged from an operation room past year with a new face and new possibilities. Schneider was a registered organ donor, but it was her mother, Sandra, who reportedly approved of the transplant.
He told The Denver Channel he wanted his wife and children back, adding they were "his life" and their "smiles light up my life". In an interview with KMGH-TV, Watts said his wife's purse, keys and phone were all left at home before she went missing.
We previously reported that Nick Jonas and his family would be traveling to India to meet fiancé Priyanka Chopra's parents. Priyanka, 36, and Nick, 25, had also attended the engagement party of industrialist Mukesh Ambani's son together.
Musk, in a revealing interview, said he has been working up to 120 hours a week and needs Ambien to fall asleep at night. Some of Musk's stress comes from critical short-sellers who are betting against the company's success.
It was widely reported that he had suffered a stroke in 2009, which had largely confined him to his New Delhi residence. Atal Bihari Vajpayee served as Prime Minister of India for three terms that began in 1996, 1998 and 1999.
Priyanka was seen wearing a traditional Abu Jani Sandeep Khosla yellow ensemble while Jonas donned an ivory shalwar kameez. She was seen wearing a diamond ring that Jonas reportedly bought after shutting down a Tiffany store in NY last month.
Not all priests are sex predators - CBPC's Secillano
James Martin, an editor at large of the Jesuit magazine America, said he believes that it is "good, healthy and clarifying". The association's stance earlier was detailed in a March 29 letter and eight-page document addressed to Cardinal Joseph W.
Murray falls to Pouille in Cincinnati first round
Federer's ousted the 47th-ranked German in 72 minutes and marked his first step towards a possible eighth title at the tournament. Earlier in the day, three-time grand slam champion Murray was upstaged by French 16th seed Lucas Pouille in three sets.
Big US retailers stick by Roundup after cancer verdict
What's even shocking is that more than 200 million pounds of glyphosate are sprayed on crops in the United States each year. According to an Environmental Protection Agency, glyphosate "is not likely to be carcinogenic to humans".
Turkish lira steady despite new threats from Trump
The banks were capable of managing the volatility, and there had been no major flow of cash out of deposits lately, he added. The spokesman also confirmed that Scholz had invited Albayrak for talks to Berlin in the second half of September.