© Reuters. FILE PHOTO: A logo of Tencent is seen during the World Internet Conference (WIC) in Wuzhen
(Corrects online games revenues in last paragraph to 29% from 36%)
(Reuters) – Chinese gaming and social media giant Tencent Holdings (OTC:) Ltd on Wednesday reported a forecast-beating 175% rise in quarterly profit.
The world’s largest gaming firm by revenue booked profit of 59.3 billion yuan ($9.09 billion) for the three months through December. That was ahead of an average analyst estimate of 30.65 billion yuan, based on data from Refinitiv.
Revenue rose 26% to 133.67 billion yuan, versus market expectations of 132.19 billion yuan.
Tencent, which has benefited from a surge in paying users for video games in China and international markets, said online games revenues grew by 29%.
($1 = 6.5232 renminbi)
(This story corrects online games revenues in last paragraph to 29% from 36%)
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