China Tech Giants Face Final Earnings Check After Upbeat Results Signal Revival
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China’s tech behemoths will shed more light on their prospects this week after peers signaled the industry is emerging from a volatile few years.
NetEase Inc., Xiaomi Corp., Meituan and Kuaishou Technology are among major players scheduled to announce their results. Earlier, internet search leader Baidu Inc. said an advertising rebound led to a stronger-than-expected 10% jump in the first quarter revenue. Tencent’s revenue growth was at its fastest pace in more than a year supported by China’s border reopening post-Covid, but sales from its advertising business missed forecast. This may signal an uneven recovery among Chinese tech giants.