Tencent profit jumps 61% to $3.7B as its mobile gaming business surges
https://techcrunch.com/2018/05/16/tencent-profit-jumps-61-to-3-7b-as-its-mobile-gaming-business-surges/
Warnings that Tencent, Asia’s highest-valued tech company, might suffer a rare poor quarter of business proved unwarranted after the company smashed analyst expectations for its latest earnings thanks to its fast-growing mobile games business.
The company reported a net profit of 23.29 billion CNY ($3.7 billion) on revenue of 73.53 billion yuan ($11.5 billion) — beating a Thomson Reuters estimate of 71.04 billion CNY revenue. Net profit was up 61 percent year-on-year, while revenue increased 48 percent over the same period.