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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 ...

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