Tencent Q2 Net Profit Surges 32%

Tencent Holdings

reported a 32% surge in its second-quarter net profit. Tencent's quarterly net profit rose to 3.10 billion yuan ($489.73 million), versus CNY2.35 billion, in the year-ago period. However, analysts were expecting a net profit of CNY3.03 billion. Its revenue surged 56.2% to CNY10.53 billion from CNY6.74 billion, versus analysts' estimates of CNY10.14 billion. Tencent shares closed at $29.52 yesterday.