Tencent results top estimates after scoring breakout gaming hits

Hong Kong

TENCENT Holdings Ltd's investments in blockbuster video and gaming content are paying off - big-time.

China's largest Internet company posted record quarterly sales and profit that topped all analysts' estimates as blockbuster titles, including Honour of Kings, drove a billion-plus users on WeChat and QQ to spend on game items. Chairman Pony Ma's strategy of stockpiling rights to hit anime and novels and developing shows in-house is transforming the company into a hybrid Marvel Studios-Netflix style content factory.