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China's Tencent says Q4 profit up 15.3 pct
March 14, 2012 / 8:53 AM / 6 years ago

China's Tencent says Q4 profit up 15.3 pct

March 14 (Reuters) - Tencent Holdings Ltd, China’s biggest Internet company by revenue, reported a 15.3 percent rise in quarterly profit, in line with analyst estimates, as growth in a budding blockbuster game helped lift tepid performances by its more mature titles.

Tencent, which has spent the last year diversifying into travel and social networking, faces stiff competition from online game operators such as Shanda Games Ltd and Netease.com Inc, as it also seeks to maintain its high growth in online games.

Tencent posted a fourth-quarter net profit of 2.54 billion yuan, in line with analyst forecasts of 2.58 billion yuan.

Tencent’s legacy games such as Crossfire and Dungeon & Fighter posted slower gains in the quarter, while its new blockbuster title League of Legends soared.

Shares in Tencent, which is more than 30 percent owned by Naspers Ltd, South Africa’s biggest media group, ended 0.1 percent higher on Wednesday before its earnings announcement versus the Hang Seng Index’s 0.2 percent loss.

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