The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Startups & Tech

SUBSCRIBERS

Tencent rises in HK after results top analysts' estimates

Shares up 2.7% in early trading after WeChat owner reported 61% rise in third-quarter sales on Wednesday

Published Thu, Nov 16, 2017 · 09:50 PM
Share this article.

Hong Kong

TENCENT Holdings Ltd rose in Hong Kong after posting accelerating sales growth and topping the most optimistic of analyst estimates.

The shares rose as much as 2.7 per cent to HK$393.40 (S$68.35) in early trading, on pace for a record close. The owner of WeChat, the social network that is nearly ubiquitous in China, reported a 61 per cent rise in third-quarter sales on Wednesday. Fuelled by advertising and hit game Honour of Kings, the growth was the fastest since 2010, when revenue was a mere one-fourteenth of its current level.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Technology

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here