Chinese internet company Tencent reported a 70% surge in profit, buoyed by revenue from ‘Honor of Kings’ and other mobile games; triple-digit growth in payment services; and an increase in online advertising.
Tencent Holdings warned it faces stiff competition in maintaining rapid growth of its core gaming and content businesses, despite notching a surge in quarterly revenue as the Chinese internet giant continues to expand abroad.
Chinese Internet juggernaut Tencent issued a disappointing third-quarter earnings report today, missing profit estimates. This was due in large part to slowing revenue from mobile gaming, which generates more than half its sales. Th...
Chinese internet major Tencent Holdings said third-quarter net profit rose 43% from a year earlier on solid revenue growth from mobile games and advertising.
Coming as China’s economy slows, Tencent Holdings’ 32% rise in third-quarter net profit, with solid revenue growth in mobile games and advertising, highlights the Chinese Internet giant’s resilience.