WeChat Sends China's Tencent Profits Surging

WeChat sends China's Tencent profits surging

HONG KONG, (Pakistan Point News - APP - 17th Augst,2016) - Chinese internet giant Tencent said Wednesday its profits jumped by 47 percent in the second quarter, buoyed by new users of its popular messaging service WeChat, gaming and digital content. Net profit for the three months to June rose to 10.74 billion Yuan ($1.62 billion) from 7.31 billion yuan in the same period last year, beating the average analyst estimate of 9.52 billion yuan according to a Bloomberg survey. Revenue jumped by 52 percent from 23.43 billion yuan to 35.69 billion yuan, the technology company said.