Fin24

Naspers up on Tencent profit rise

2012-08-15 11:34

Cape Town - Tencent Holdings, China’s biggest internet company by revenue, said on Wednesday its quarterly profit rose by its fastest pace in a year, in line with analysts’ estimates as sales got a boost from its online games segment.

Tencent posted a 32% rise in second-quarter net profit to 3.1 billion yuan ($492m), roughly in line with the average estimate of 3 billion yuan in a Reuters poll of eight analysts. Revenue rose 56% to 10.53 billion yuan, above the average forecast from nine analysts for 10.1 billion yuan.

Shares of Tencent, which is more than 30% owned by Naspers [JSE:NPN], South Africa’s biggest media group, ended 0.17% lower on Wednesday before the results were announced, versus a 1.18% fall in the Hang Seng Index. Tencent shares are up 47% this year.

Naspers shares rose nearly 1.7% to at R471.94 following the results on Wednesday.

*Fin24 is a Naspers publication.


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