Hong Kong — High demand for video games during Covid-19 lockdowns buoyed Tencent Holdings' first-quarter revenue and profits, with blockbuster games PlayerUnknown's Battlegrounds Mobile and Honor of Kings helping it beats forecasts. Tencent is partly owned by JSE-listed technology investment group Naspers.

The Chinese company's video games business, which generates more than a third of its revenue, saw growth of 31% to 37.30-billion yuan ($5.26bn) as people idled away the time in front of screens and used online multiplayer games to virtually hang out with friends...

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