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Tencent beats estimates as WeChat, mobile games drive growth


WeChat had 1.04 billion monthly active users while the mobile version of QQ – the older of its two social networks – saw users drop 6.4% to 805.5 million at the end of the quarter. — Bloomberg

WeChat had 1.04 billion monthly active users while the mobile version of QQ – the older of its two social networks – saw users drop 6.4% to 805.5 million at the end of the quarter. — Bloomberg

Tencent Holdings Ltd posted a quarterly profit that exceeded estimates, bolstered by mobile game blockbusters like PlayerUnknown’s Battlegrounds as users on China’s most popular social network surpassed a billion for the first time. 

Tencent posted a 61% jump in net income to 23.3bil yuan (RM14.48bil) in the three months ended March, outstripping the 17.4bil yuan (RM10.81bil) average projection. That was buoyed by a one-time gain of almost 7.6bil yuan (RM4.72bil) as the value of investments in arenas from video streaming to news content rose. 

   

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