Reuters logo
Tencent Q2 profit beats forecast; revenue grows at fastest pace in over 3 yrs
August 17, 2016 / 9:30 AM / a year ago

Tencent Q2 profit beats forecast; revenue grows at fastest pace in over 3 yrs

BEIJING, Aug 17 (Reuters) - Tencent Holdings Ltd, China’s biggest social network and online entertainment firm, posted a 47 percent jump in second-quarter profit, beating analysts’ estimates, as revenue grew at its fastest rate in more than three years.

Net income for the quarter ended June rose to 10.9 billion yuan ($1.64 billion), outpacing estimates of 9.8 billion yuan, according to a Thomson Reuters poll of nine analysts.

Tencent’s quarterly revenue climbed 52 percent, the fastest pace since the fourth quarter of 2012, to 35.7 billion yuan ($5.38 billion), trumping an average forecast of 33.2 billion yuan, based on a Thomson Reuters poll of 11 analysts. ($1 = 6.6332 Chinese yuan) (Reporting by Paul Carsten; Editing by Biju Dwarakanath)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below