Tim Culpan, Columnist

Now's Not the Time to Celebrate Tencent Earnings

Games remain a problem, while one-time items and new businesses propped up numbers for the Chinese internet company.

November 15, 2018 at 2:07 AM UTC

Tim Culpan is a former Bloomberg Opinion columnist covering technology in Asia. Previously, he was a technology reporter for Bloomberg News.

Hold the champagne.
Photographer: Justin Sullivan/Getty Images

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Tencent Holdings Ltd. may struggle to repeat the better-than-expected earnings it delivered in the third quarter.

In the face of numerous challenges, the Shenzhen-based internet company reported net income that surpassed analyst estimates by 27 percent. Tencent shares rallied as much as 4.6 percent in Hong Kong on Thursday. That looks optimistic.