Tencent Q3 Net Profit Rises 32%

Chinese company Tencent Holdings Ltd

reported a 32% rise in its third-quarter net profit. Tencent's online game revenue jumped to CNY8.4 billion ($1.33 billion), from CNY4.1 billion, in the year-ago period. Its quarterly net profit rose to CNY3.22 billion, from CNY2.45 billion, in the year-ago period. However, analysts were expecting a profit of CNY3.46 billion. Tencent's revenue climbed 54% to CNY11.57 billion from CNY7.50 billion, versus analysts' estimates of CNY11.62 billion. Tencent shares closed at $35.06 yesterday.