Tencent Q3 Net Profit Rises 32%
Chinese company Tencent Holdings Ltd (OTC: TCEHY) 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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.