Tencent posted better-than-expected earnings for Q1 on strong growth of video game business

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

Tencent Holdings reported a better-than-expected 6 per cent increase in first-quarter net profit supported by the growth of its video games business, but it warned of challenges in online advertising even as China’s business activities resume from the coronavirus lockdown.

Tencent, which runs China’s biggest gaming and social media businesses, posted a net profit of 28.9 billion yuan (US$4.1 billion) in the quarter ended in March, compared to 27.2 billion yuan in the same period last year.

The growth was primarily attributed to its value-added . . .

Sign In or Subscribe To Get Full Access.

Try Us For Free

Unlock exclusive content tailored to the complexity of the Chinese market.

From regulatory updates and economic indicators to market trends and company spotlights, we've got you covered.

Grab Our Welcome Offer!