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China's Tencent beats expectations to post 58% jump in Q1 profit

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Published Wed, May 17, 2017 · 09:50 PM

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    Beijing

    TENCENT Holdings Ltd, China's biggest gaming and social media firm by revenue, overshot estimates to post a 58 per cent rise in first quarter profit on Wednesday, aided by strong growth in gaming and digital payments.

    The results represent Tencent's highest quarterly profit growth in 21/2 years, reaching 14.3 billion yuan (S$2.9 billion) for the quarter. That was above a median forecast for a 13.2 billion yuan profit from eight analysts polled by Reuters.

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