Tencent, the Chinese online gaming and messaging group, posted a 31 per cent rise in profit in the third quarter after growth in online advertising, mobile payments and cloud services offset the impact of Beijing’s continuing ban on new internet games.
Tencent said its net profit for the quarter was Rmb23.3bn ($3.3bn), well ahead of a consensus estimate of Rmb18.9bn from analysts polled by Reuters.
The company was also helped by an 81 per cent rise in the net gains from its investments, to Rmb8.7bn, including a “fair value gain” from Meituan Dianping, the food delivery to ticket booking app that listed in Hong Kong in September.
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