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

Tencent has sought to boost profits this year by expanding the use of its payments app, WeChat Pay, among local and international merchants.


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...

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