Tencent revenues grew 24 percent in Q4, lowest pace in seven years

Tencent Holdings reported earnings today that included revenue figures that seemed to indicate the Chinese social networking and video game giant’s meteoric growth was slowing.

In the fourth quarter, Tencent — which owns a majority stake in Riot Games and one of the most lucrative PC games in the world, the online multiplayer battler League of Legends — had revenue of $3.44 billion, a figure that slightly beat analysts’ expectations and was an increase of 24 percent from the same period a year ago. However, that rate of increase was the slowest in seven years.