All data is delayed
Loading...
See More

Tencent reports Q4 profit rise

Mar 14 2012 11:06
Reuters
TENCENT Holdings, China’s biggest internet company by revenue, reported a 15.3% 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 and Netease.com, 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% owned by South Africa’s biggest media group Naspers, ended 0.1% higher on Wednesday before its earnings announcement versus the Hang Seng Index’s 0.2% loss.

* Fin24 is a Naspers publication.
tencent holdings

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...