Tencent profit surged 37% in Q2 boosted by strong gaming operations

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Chinese internet giant Tencent Holdings posted a 37 per cent increase in second-quarter net profit, beating market estimates, on the back of its strong gaming operations, while it saw some weakness in the advertising business.

Shenzhen-based Tencent, which runs the world’s largest video games business and China’s biggest social media platform, reported a net profit of 33.1 billion yuan in the quarter ended June 30, up from 24.1 billion yuan in the same period last year. That was much better than the 27.3 billion yuan consensus estimate in a Bloomberg . . .

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