Hong Kong — Tencent boosted revenue at the fastest pace since 2018, defying an economic downturn in China as it prepares to face a ban on its WeChat messaging app by US President Donald Trump. Sales rose 29% to 114.9-billion yuan ($16.5bn) in the three months ended June, beating estimates with a surge in online gaming revenue. It reported net income of 33.1-billion yuan that beat the highest of analysts’ projections, thanks to a gain of more than 8.6-billion yuan from asset disposals and valuation gains in its portfolio of investments. Shares in Prosus, which holds the internet assets of major shareholder...
Full ArticleTencent profit surges as gaming grows at fastest pace in two years
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