HONG KONG (Reuters) – Chinese gaming and social media giant Tencent Holdings Ltd said on Wednesday net profit in its first quarter rose 6%, beating market estimates, boosted by high demand for its video games during the pandemic.
The world’s largest gaming firm by revenue booked a 28.90 billion yuan ($4.07 billion) profit for the three months through March. That was ahead of an analyst average estimate of 23.84 billion yuan, according to data from Refinitiv.
Revenue rose 26% to 108.07 billion yuan, versus market expectations of 101.42 billion yuan.
(Reporting by Pei Li and Brenda Goh, editing by Louise Heavens)
