August 14, 2019 / 9:40 AM / a month ago

Tencent Q2 profit rises 35%, beats forecast

HONG KONG, Aug 14 (Reuters) - Tencent Holdings on Wednesday posted a better-than-expected 35% rise in quarterly net profit, as its gaming arm regained growth momentum on a thaw in new approvals by China after a freeze for most of last year.

The world’s largest gaming firm by revenue reported 24.14 billion yuan ($3.44 billion) in net profit for the second quarter ended June, versus an average estimate of 20.74 billion yuan from 13 analysts polled by Refinitiv.

Revenue rose 21% to 88.8 billion yuan, versus an average forecast of 93.4 billion yuan from 16 analysts. ($1 = 7.0173 Chinese yuan) (Reporting by Sijia Jiang; Editing by Himani Sarkar)

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