Tencent has kept up the pace with tech rivals such as Facebook and Amazon with a 57 per cent year-on-year jump in third quarter earnings, as the Chinese tech company boosted ad revenues on the back of its popular mobile games and social media apps.
Earnings leapt to Rmb22.75bn ($3.43bn), while monthly active users on its WeChat and Weixin platforms hit 980m.
The strong earnings report caps a stellar fortnight for Hong Kong listed Tencent, one of the world’s 10 most valuable companies. It spun off two of its units, China Literature and search engine Sougo, both of which priced at the top end of the range. Shares in ebook arm China Literature as much as doubled on their debut.
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