Tencent Results Top Estimates After Scoring Breakout Hits
- Both profit and revenue surpassed highest analyst projection
- Mobile blockbuster Honour of Kings delivered a record quarter
Tencent Earnings Tops Estimates
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Tencent Holdings Ltd.’s investments in blockbuster video and gaming content are paying off -- big-time.
China’s largest internet company posted record quarterly sales and profit that topped all analysts’ estimates as blockbuster titles including Honour of Kings drove a billion-plus users on WeChat and QQ to spend on game items. Chairman Pony Ma’s strategy of stockpiling rights to hit anime and novels and developing shows in-house is transforming the company into a hybrid Marvel Studios-Netflix style content factory.