Tencent Profits Soar 50% on Revenues from Online Games, Ads
Posted in: UncategorizedChinese internet giant Tencent Holdings Ltd. posted a 50% leap in quarterly profit as it reaps higher revenue from more than 1 billion users of its WeChat and QQ messaging services.
Net income climbed to $941 million in the three months that ended Dec. 31, up 50% from the year-earlier period, the Shenzhen, China-based company said in a statement Wednesday.
Billionaire Chairman Ma Huateng is finding ways to make money from instant messaging through advertising and payment services as Tencent steers shoppers to e-commerce partner JD.com and expands its game lineup to compete with Alibaba Group Holding Ltd. The company is trying to reach more users with deals to stream content such as “Game of Thrones” and to make WeChat among the first applications integrated with Apple’s smartwatch.
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