Tencent quarterly profit rises 35% on new gaming approvals
Second-quarter net profit was 24.14-billion yuan and smartphone gaming revenue rose 26% as China becomes more lenient over new titles
14 August 2019 - 12:43
Hong Kong — Tencent Holdings posted a better-than-expected 35% rise in quarterly net profit on Wednesday, as its gaming arm regained growth momentum on a thaw in new approvals by China after a freeze for most of last year.
The world’s largest gaming firm by revenue, in which Naspers has a 31% stake, reported 24.14-billion yuan ($3.44bn) in net profit for the second quarter ended June, compared to an average estimate of 20.74-billion yuan from 13 analysts polled by Refinitiv...
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