A good reason and a bad reason to be less optimistic about Tencent

Matthew Brennan Tencent

Tencent’s earning’s call on Wednesday has understandably caused a lot of debate. The first drop in profits in 10 years is certainly something worthy of discussion. Tencent’s share price has clearly had a horrid time of things this year. Yet I’ve somehow found myself somewhat confused at the narratives being spun around this situation. Below I took a bash at breaking …