News 17 may — 14:47

WeChat's owner Tencent sees profits soar by more than 60%


Chinese tech giant Tencent Holdings has posted a record quarterly profit for the three months to March, sending its shares up more than 5% on Thursday, BBC reports.

The firm, which owns the popular messaging app WeChat, posted a 61% year-on-year jump in profit, to 23.29bn yuan ($3.7bn; £2.73bn).

Tencent's online games, like the hugely popular Honour of Kings, boosted revenues by 26%.

WeChat, which is a bit like WhatsApp, is now China's biggest social network.

It is also an important source of revenue for Tencent - though the firm continues to remain reasonably vague on those details in its earnings reports.

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