March 22, 2017 / 9:17 AM / 6 months ago

China's Tencent Q4 profit rises 47 pct, lags estimates

HONG KONG, March 22 (Reuters) - Tencent Holdings Ltd , China’s biggest social media and online entertainment company, reported a 47 percent rise in quarterly profit on Wednesday, helped by strong new revenue growth in payment and cloud services.

Net profit for the three months through December was 10.53 billion yuan ($1.53 billion), up from 7.2 billion yuan a year earlier, the company said.

That compared with the 11.75 billion yuan average of 6 analyst estimates according to a Thomson Reuters poll.

Tencent, whose shares have risen 20 percent to a record high this year, reported a 44 percent rise in quarterly revenue to 43.86 billion yuan, versus the 43.7 billion yuan average of 8 analyst estimates. ($1 = 6.8861 Chinese yuan renminbi) (Reporting by Sijia Jiang; Editing by Christopher Cushing)

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