Hong Kong — Shares in Chinese internet giant Tencent fell on Thursday as a more than 40% jump in net profit fuelled by a surge in game revenues missed expectations and annual gaming sales slowed. Tencent became the country’s most valuable enterprise in September, overtaking state-owned behemoth China Mobile, three months after buying the creator of popular games Clash of Clans and Clash Royale for $8.6bn. Based in the Chinese southern export hub of Shenzhen, the firm operates China’s biggest messaging service WeChat through which a variety of businesses including gaming, advertising and social networking have flourished in recent years. In a filing late on Wednesday, it announced net profit for July-September rose 43% year on year to 10.65-billion yuan ($1.56bn) thanks to an 87% jump in revenue to 9.9-billion yuan from smartphone games. It also said its popular Honor of Kings game had surpassed 40-million daily active users. Total revenue came in at 40.39-billion yuan, up 52%. Howev...
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