Tencent to double share buybacks as Q4 sales miss expectation
HONG KONG -- Tencent Holdings intends to at least double its share buybacks this year to 100 billion Hong Kong dollars ($12.8 billion), the Chinese tech giant said Wednesday, as the company's sales in the fourth quarter missed expectations.
The buyback will be supported by Tencent's "record high and growing profit and cash flow," the company said.