Tencent revenue surprises

Icons: Icons of messaging applications WhatsApp of Facebook (left), Laiwang of Alibaba Group (centre) and WeChat, or Weixin, of Tencent Group, are seen on the screen of a smart phone on this photo illustration taken in Beijing. – Reuters

HONG KONG: Tencent Holdings Ltd posted a better-than-expected 55% surge in quarterly revenue as blockbuster titles including Honour of Kings drove a billion-plus users on WeChat and QQ to spend on game items.

Revenue climbed to 49.6 billion yuan (US$7.2bil) in the three months ended March, the Shenzhen-based company said yesterday, surpassing the 46.4 billion yuan analysts projected on average. Net income climbed 58% to a record 14.5 billion yuan, compared with the 13 billion yuan projected.