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Tencent Q1 net income soars 60 pct, helped by mobile gaming boost
May 14, 2014 / 9:39 AM / 3 years ago

Tencent Q1 net income soars 60 pct, helped by mobile gaming boost

BEIJING, May 14 (Reuters) - Internet company Tencent Holdings Ltd, China’s biggest listed tech firm, said its first-quarter net income climbed 60 percent, surging beyond analyst estimates, helped by a strong performance in its mobile gaming business.

Net income for the quarter ended March grew to 6.46 billion yuan ($1.04 billion) from 4.04 billion yuan a year earlier, far above analyst estimates of 4.93 billion yuan.

Tencent’s revenue leapt 36 percent to 18.4 billion yuan ($2.95 billion). The division that includes the lucrative gaming business saw a 35 percent jump in revenue, boosted by success in sales of games for smartphones distributed over hugely popular mobile messaging app WeChat.

Global monthly active users of Tencent’s WeChat, China’s biggest mobile device application, rose 11.5 percent from the previous quarter to 396 million.

$1 = 6.2291 Chinese Yuan Reporting by Paul Carsten; Editing by Kenneth Maxwell

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