BEIJING, March 19 Tencent Holdings Ltd
, China's biggest listed tech firm, saw fourth quarter
net income rise 12.9 percent, its slowest pace in seven
quarters, as selling and marketing expenses rose.
Net income for the quarter ending December was 3.91 billion
yuan ($631.46 million), in line with analyst estimates of 3.97
Tencent's revenues climbed 40 percent to 16.97 billion yuan
($2.74 billion), as the company gained ground in e-commerce
which accounted for one-fifth of revenues in the last three
months of 2013 versus 15 percent of revenues in the previous
But selling and marketing expenses jumped 39 percent to 2
billion yuan in the fourth quarter from the previous quarter.
Global monthly active users of Tencent's WeChat, China's
most widely used mobile chatting app, rose 5.7 percent from the
previous quarter to 355 million, its slowest rate of growth as
the company revised up its user numbers from the previous
Before the results were announced, Tencent shares closed
down 1.82 percent in trading on Wednesday, versus a 0.07 percent
fall in the Hang Seng Index.
($1 = 6.1920 Chinese Yuan)
(Reporting by Paul Carsten; Editing by Miral Fahmy)