Tencent reports 3% jump in third-quarter profit, beating expectations

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 (Reuters) - Chinese gaming and social media giant Tencent Holdings posted a 3% rise in third-quarter profit, beating analyst expectations as it flagged the impact of heightened regulatory scrutiny and an advertising slowdown.

Net profit for the three months through September rose to 39.5 billion yuan ($6.18 billion), above an average Refinitiv estimate of 35 billion yuan drawn from 14 analysts.