Tencent’s Profit Is Better Than Expected
- Sales rise 61 percent on ads, hit Honour of Kings game
- Advertising sales climb 48% as mobile gaming almost doubles
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Tencent Holdings Ltd. is defying the law of large numbers, posting accelerating revenue growth and topping the most optimistic of analyst estimates.
The owner of WeChat, the social network that is nearly ubiquitous in China, reported a 61 percent rise in third-quarter sales. Fueled by advertising and hit game Honour of Kings, the growth was the fastest since 2010, when revenue was a mere one-fourteenth of its current level.