Tencent's splurge on premium content pays off with strong Q2 earnings
Hong Kong
TENCENT Holdings Ltd's shopping spree on premium content from Game of Thrones to NBA broadcasts has again helped defy investors' expectations and a slowing Chinese economy.
Second-quarter sales and profit beat analysts' estimates as the operator of the WeChat and QQ social network services splashed out on mobile games and content - including anything from anime and comics to novels. That strategy paid off as users surged and online advertising revenue swelled 60 per cent, confounding fears about marketing cutbacks.
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