Tencent posts better-than-expected US$3.9 billion first-quarter profit on back of payments, ads, digital content

//Tencent posts better-than-expected US$3.9 billion first-quarter profit on back of payments, ads, digital content

Tencent posts better-than-expected US$3.9 billion first-quarter profit on back of payments, ads, digital content

Tencent Holdings, operator of China’s biggest video games and social media businesses, beat estimates to record a 17 per cent year-on-year increase in first-quarter net profit, primarily driven by commercial payment, social advertising and digital content services.Hong Kong-listed Tencent posted a net profit of 27.2 billion yuan (US$3.9 billion) in the quarter ended March 31, up from 23.3 billion yuan in the same period last year and ahead of the 19.4 billion yuan consensus from analysts…

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By | 2019-05-15T09:30:04+00:00 May 15th, 2019|Technology|Comments Off on Tencent posts better-than-expected US$3.9 billion first-quarter profit on back of payments, ads, digital content