Tencent Doubles Buyback to $12.8 Billion, Boosts Payouts to Shareholders Amid Growth Concerns

Tencent plans to more than double its stock buyback program to $12.8 billion in 2024 to appease investors concerned about slowing growth
Tencent reported lower-than-expected 7% revenue growth in Q4 as gaming sales disappointed, especially in China
Tencent is boosting its annual dividend by 42% as part of increased shareholder returns, following moves by rivals like Alibaba
Tencent faces challenges sustaining growth momentum, including in cloud, video/music streaming, and gaming divisions
Tencent is exploring opportunities in AI, including integration into search and marketing, and investments in AI startups