HONG KONG, March 20 Reuters China39;s Tencent Holdings posted a 7 rise in fourthquarter revenue on Wednesday, trailing analysts39; expectations, as Chinas economic slowdown takes a toll, and said it was expecting to at least double its share buybacks this year.

The world39;s largest video game company and operator of the WeChat messaging platform reported revenue of 155.19 billion yuan 21.56 billion for the three months ended Dec. 31.

That compared with the 157.2 billion yuan average of 23 analyst estimates compiled by LSEG.

For all of last year, Tencents revenue rose 10 to 609 billion yuan, which trails expectations at 612.2 billion yuan.

Still, this marks a year of recovery for Tencent, which reported its first annual revenue decline in 2022 as it was hit by Beijings sweeping crackdown on the tech sector. By comparison, it saw revenue growth in every quarter last year.

Tencent39;s core gaming business suffered a notable slowdown in the fourth quarter. Gaming revenue in China declined 3 to 27 billion yuan, while international gaming revenue increased only 1 to 13.9 billion yuan.

Revenue from online ads rose 21 to 29.8 billion yuan as the Shenzhenbased giant continues to expand its ad distribution capability.

Revenue from fintech and business services grew 15 to 54.5 billion yuan as the firm continued its expansion in those areas.

The company also said intends to at least double the size of its share repurchases from HK49 billion in 2023 to over HK100 billion…