Tencent posted 29% growth in Q2 profit boosted by gaming and advertising business

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Chinese social media and gaming giant Tencent Holdings posted a 29 per cent rise in second-quarter profit boosted by an increase in revenue form popular games and growth in online advertising sales.

The company reported a profit of 42.6 billion yuan ($6.6 billion) in the quarter ended June, up from the 33.1 billion yuan in the same period last year and beating estimates of 30.8 billion yuan in a Bloomberg survey.

Revenue reached 138.26 billion yuan, up 20 per cent from 114.9 billion yuan during the same period . . .

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