Tencent Shares Jump After Video Drives Big Earnings Beat
This article is for subscribers only.
Tencent Holdings Ltd. climbed by the most in more than three weeks after better-than-anticipated earnings suggested the WeChat operator was making headway against ByteDance Ltd. in a volatile Chinese internet arena.
China’s largest company reported a 62% surge in net income after doubling ad sales through its TikTok-style video accounts service. Its shares rose as much as 4.8% in Hong Kong on Thursday, the first trading session after Tencent unfurled results.