Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Tencent reports 58 percent jump in first-quarter profit

May 17, 2017 1:37 PM
16 0
Tencent reports 58 percent jump in first-quarter profit

(Reuters) – Tencent Holdings Ltd, China’s top gaming and social media firm, reported a 58 percent rise in quarterly profit on Wednesday, aided by growth in online games, payment-related services and advertising.

Net profit attributable to the company for the three months ended March 31 was 14.48 billion yuan ($2.10 billion), up from 9.2 billion yuan a year earlier, the company said. That compared with 13.2 billion yuan estimated by 8 analysts, according to a Thomson Reuters poll. Tencent, whose shares have risen over 35 percent to a record high this year, reported a 55 percent rise in quarterly revenue to 49.55 billion yuan, compared with 32 billion yuan a year earlier.

Also read: Barclays Bank of Kenya's H1 pretax profit down 12 pct


Share in social networks:

Comments - 0