BUSINESS Tencent reports 26 pct revenue growth in Q1

BUSINESS

Tencent reports 26 pct revenue growth in Q1

Xinhua

09:27, May 14, 2020

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Photo: CGTN

GUANGZHOU, May 13 (Xinhua) -- China's Internet giant Tencent on Wednesday posted 26 percent year-on-year revenue growth in the first quarter, raking in over 108 billion yuan (around 15.2 billion U.S. dollars).

Net profit rose 29 percent year on year to reach over 27 billion yuan during the period, according to the company's financial statement.

The firm's social networking services are big revenue contributors. The monthly active users of Tencent's popular social media platform WeChat rose to more than 1.2 billion.

Short video and streaming services also saw robust growth, with Tencent Video subscriptions increasing to 112 million. Enditem

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