Tencent profits and revenues jump as WeChat users grow 23% in Q1
Tencent has outstripped expectations reporting a surge in first quarter profits and revenues driven by mobile gaming and digital content.
The company, which owns the social networking ecosystem WeChat, reported total revenues of RMB 49,552m ($7.182m) and net profit of RMB 14,548m ($2,109m) for Q1 2017.
The results revealed year-on-year increases of 55% and 57% respectively, marking the highest quarterly profit growth in two years for the company and exceeding market expectations.
The growth was driven by a 34% increase in gaming revenues of RMB 22,811m, buoyed by the success of smartphone games Honour of Kings and Dragon Nest Mobile.
Social networks revenues grew Read full story ›
Source: The Drum
