Tencent half-year income jumps to 51.3b yuan

Business | 14 Aug 2019 7:00 pm

Tencent Holdings (0700) announced that net profit for the six months ended June 30 grew by 25 percent to 51.35 billion yuan (HK$57.40 billion).

But net profit for the three months ended June 30 fell by 11 percent quarter-on-quarter.

The year-on-year net profit growth falls within the upper end of the market expectation of 12.8 percent to 25.6 percent, according to aastocks.

Revenue in the first half climbed by 18 percent to 174.29 billion yuan.

Tencent did not declare an interim dividend for the first six months.

Total online games revenues in the second quarter increased by 8 percent year-on-year to 27.3 billion yuan, and smartphone games revenues amounted to 22.2 billion yuan, up by 26 percent year-on-year due to the popularity of existing key titles and recent releases.

Social networks revenues grew by 23 percent to 20.77 billion yuan.

 

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