Gaming Boosts Tencent’s Profit

Published on March 20, 2013
by Paul Mozur and Isabella Steger

Chinese online gaming and social-media company Tencent Holdings Ltd. said its fourth-quarter net profit rose 37 percent from a year earlier on rising revenue from a number of online services including gaming and sales of virtual products.

Tencent, China’s largest listed Internet company, has in recent quarters buffeted a slowdown in ad spending in China with its diverse online services such as online and mobile gaming. The company also has a widely watched mobile application, known as WeChat, which it has been using to attract the growing number of Chinese users who are using smartphones instead of computers to connect to the Internet.

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