Tencent first quarter profit rises 17 percent, beats forecast


FILE PHOTO: A Tencent sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

HONG KONG (Reuters) – Tencent Holdings reported on Wednesday a 17% rise in profit for the three months ended March, beating estimates.

Profit attributable to equity holders of the company was 27 billion yuan ($3.93 billion), compared to the average estimate of 19.4 billion yuan from 13 analysts polled by Refinitiv.

Revenue grew 16% to 85.5 billion yuan, versus an average forecast of 88.2 billion yuan from 17 analysts.

($1 = 6.8738 Chinese yuan)

Reporting by Sijia Jiang; Editing by Himani Sarkar

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