Tencent First-Half Net Profit Up 64% at CNY32.71 Billion

By Chester YungFeaturesDow Jones Newswires

Chinese internet giant Tencent Holdings Ltd. (0700.HK) said Wednesday that its first-half net profit rose 64% from a year earlier on solid revenue growth from mobile games and advertising.

Shenzhen-based Tencent, one of Asia's most valuable technology companies, said net profit for the six months ended June rose to 32.71 billion yuan ($4.90 billion) from CNY19.92 billion a year earlier, while revenue for the period jumped 57% to CNY106.16 billion.

Continue Reading Below

For the quarter ended June, Tencent's net profit surged 70% from a year earlier to CNY18.23 billion, while revenue rose 59% to CNY56.61 billion.

The company didn't declare an interim dividend.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 16, 2017 06:12 ET (10:12 GMT)