Tencent Holdings Ltd’s revenue beat expectations after Covid-19 lockdowns propelled gaming sales to their fastest pace of growth since 2017, sending shares surging in Hong Kong.
The WeChat operator’s revenue rose 26% to 108.1 billion yuan (RM66bil) after online gaming sales leapt 31% during the coronavirus-stricken March quarter, helping offset shrinking ad budgets and a record Chinese economic contraction. Shares rose as much as 4% May 14, their biggest gain in more than a month.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!