Tencent Profits Skyrocket 89 Percent YoY Amid COVID-19, Vows to Work With Chinese State Regulators


Source: sputniknews.com sputniknews.com

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The Chinese tech giant posted higher-than-expected earnings in the third quarter, revealing substantial growth despite several key internal and external changes in the tech sector, Pandaily reported. Chinese tech giant Tencent posted strong earnings of 125bn yuan ($18.9bn) in the third quarter on Thursday, or a 29 percent year-on-year increase, beating analyst predictions. The WeChat owner and gaming boosted net profits 89 percent year-on-year to 38.54bn yuan ($5.8bn) in Q3, the company's financial report revealed . — Tencent 腾讯 (@TencentGlobal) November 12, 2020 Gaming has driven most of Tencent's value added services' (VAS) revenues, with titles such as PUBG Mobile...