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Tencent Q2 net income rises 59 pct, tops analyst estimates
August 13, 2014 / 9:08 AM / 3 years ago

Tencent Q2 net income rises 59 pct, tops analyst estimates

BEIJING, Aug 13 (Reuters) - Tencent Holdings Ltd, China’s biggest listed tech firm, posted quarterly earnings that beat analyst estimates as smartphone gaming and social networking contributed a large share of sales growth for the second quarter in a row.

Net income for the quarter ended June rose 59 percent on year to 5.84 billion yuan ($949 million), slightly above analyst estimates of 5.73 billion yuan. Revenue climbed 37 percent to 19.75 billion yuan.

Global monthly active users of Tencent’s WeChat, China’s biggest mobile app, rose 10.7 percent from the previous quarter to 438.2 million.

Tencent shares were down 0.08 percent at the close of Hong Kong trading on Wednesday, before the earnings announcement. That compares with a 0.81 percent rise in the Hang Seng Index . (1 US dollar = 6.1531 Chinese yuan) (Reporting by Paul Carsten; Editing by Ryan Woo)

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