You are here: Home » Reuters » News
Business Standard

Tencent first-quarter net profit surges 61 percent, beats estimate

Reuters  |  HONG KONG 

HONG KONG (Reuters) - Chinese social media and gaming giant Tencent Holdings reported on Wednesday a 61 percent rise in net profit for the first quarter of the year, beating estimates, thanks to strong mobile games revenue. Asia's second-most valuable listed company said net profit for the quarter was 23.29 billion yuan ($3.66 billion), against an average estimate of 17.5 billion yuan from 11 analysts polled by Thomson Reuters. That represented a quarter-on-quarter rise of 12 percent. Revenue rose 48 percent to 73.53 billion yuan, beating the 70.93 billion yuan average estimate of 14 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, May 16 2018. 15:16 IST