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Aug 16, 2017 @ 20:02

Billionaire Ma Huateng on a roll: Tencent clobbers estimates with 70% profit surge

 

Chinese tech giant Tencent on Wednesday reported second-quarter results that handily beat analyst estimates in an apparent validation of the company’s push to build up its entertainment and gaming businesses.

Net profit surged to 18.2 billion yuan ($2.7 billion) in the three months ending in June, up 70 percent year-on-year, the Shenzhen-based company said.

That easily beat an average estimate of 13.5 billion yuan in an analysts poll by Bloomberg News.

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