As Trump Administration Seeks WeChat Restrictions, Tencent Profit Surges
Tencent Holdings Ltd. downplayed threats from the Trump administration’s potential restrictions on its flagship WeChat app, as increased spending through its services and videogames pushed the Chinese internet giant to better-than-expected profit and revenue in the second quarter. Tencent, the world’s biggest videogame company by revenue, said its profit in the June quarter grew 37%
Tencent Holdings Ltd. downplayed threats from the Trump administration’s potential restrictions on its flagship WeChat app, as increased spending through its services and videogames pushed the Chinese internet giant to better-than-expected profit and revenue in the second quarter.
Tencent, the world’s biggest videogame company by revenue, said its profit in the June quarter grew 37% to 33.1 billion yuan ($4.8 billion) from the same period last year, helped by its mobile-game business. Revenue rose 29% to 114.9 billion yuan….