Tencent investments push profits up 65 per cent in first quarter, as gaming and fintech units grow with Beijing scrutiny

//Tencent investments push profits up 65 per cent in first quarter, as gaming and fintech units grow with Beijing scrutiny

Tencent investments push profits up 65 per cent in first quarter, as gaming and fintech units grow with Beijing scrutiny

Tencent Holdings saw profit jump 65 per cent in the first quarter on the back of strong returns from its myriad investments and growth in its gaming and fintech units, even as the company remains clouded by the possibility of new fines from Beijing amid a continuing Big Tech crackdown.The Hong Kong-listed company reported a profit of 47.8 billion yuan (US$7.4 billion) in the quarter ended March, compared with 28.9 billion yuan in the same period of 2020 and above consensus expectations of 34.4…

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By | 2021-05-20T08:41:26+00:00 May 20th, 2021|Technology|Comments Off on Tencent investments push profits up 65 per cent in first quarter, as gaming and fintech units grow with Beijing scrutiny