China’s Tencent posts strong revenue growth as ad sales and business services shine

CHINA’S Tencent Holdings posted a 6 per cent rise in first-quarter revenue on Tuesday (May 14), beating analyst expectations, as business services and advertising sales deliver strong revenue growth.

The world’s largest video game company and operator of the WeChat messaging platform said revenue reached 159.5 billion yuan (S$29.8 billion) for the three months ended Mar 31.

That compared with the 158.44 billion yuan average of 19 analyst estimates compiled by LSEG. REUTERS