Once high-flying Chinese tech giants are now looking to scale back costs
2022-08-22 11:06:14 source：CNBC
August 21, 2022
Chinese tech giants Alibaba and Tencent often talk about all of their innovations and new products during earnings calls with investors.
But the second quarter was different. Executives at China’s two largest tech firms focused on something a little less flashy — keeping costs down.
It comes after Alibaba and Tencent posted a set of second-quarter results that confirmed these once free-wheeling and high-flying behemoths are not growing anymore.
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