Tencent second-quarter profit rises 29%, beats estimates

FILE PHOTO: A logo of Tencent is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song/File Photo

SHANGHAI:Chinese gaming and social media giant Tencent Holdings posted a 29% rise in second-quarter profit, a slower pace of growth after the coronavirus pandemic led to a boom in online gaming last year.

Net profit for the three months through June came in at 42.6 billion yuan, above an average Refinitiv estimate drawn from 13 analysts of 34.4 billion yuan.