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Tencent reports 58 percent jump in first-quarter profit

May 17, 2017 1:37 PM
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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.

Source: euronews.com

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