Tencent's splurge on premium content pays off with strong Q2 earnings
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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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