7 years, 4 months ago

Tencent posts 69 percent jump in quarterly net profit; becomes the most valuable company in Asia

Net profit for the three months rose to 18 billion yuan, said China’s largest social media and gaming company Tencent. Chinese internet giant Tencent Holdings Ltd posted a 69 percent jump in its quarterly net profit, blowing past estimates, underpinned by a strong growth in revenue from its smartphone games and payment-related services. Net profit for the three months ended in September rose to 18 billion yuan, China’s largest social media and gaming company said in a filing to the Hong Kong Stock Exchange. Tencent’s revenue from PC games rose 27 percent to 14.6 billion yuan, while online advertising revenue rose 48 percent to 11 billion yuan.

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