Tencent Third-Quarter Net Profit Rises 69% to CNY18.01 Billion, Beating Estimates

By Chester YungFeaturesDow Jones Newswires

Tencent Holdings Ltd. (0700.HK) reported a 69% increase in third-quarter net profit, driven by strong growth in its mobile-gaming and digital-content divisions and robust advertising revenue.

The Chinese internet giant said Wednesday its net profit for the July-September period rose to 18.01 billion yuan ($2.71 billion) from CNY10.65 billion a year earlier. Analysts polled by S&P Global Market Intelligence expected net profit of CNY15.7 billion.

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Tencent's revenue for the period rose 61% to CNY65.21 billion, beating analysts' forecast for CNY61 billion.

Tencent shares ended 1.3% lower in Hong Kong.

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

(END) Dow Jones Newswires

November 15, 2017 04:41 ET (09:41 GMT)