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Tencent (00700.HK) sees H1 net profit rise to RMB 41.2 bln
August 16, 2018
Abstract : China's tech giant Tencent (00700.HK) announced on Thursday that its net profits in the first half of the year stood at about 41.2 billion yuan, up 26 percent year on year.
BEIJING, Aug. 16 (Xinhua) --- China's tech giant Tencent (00700.HK) announced on Thursday that its net profits in the first half of the year stood at about 41.2 billion yuan, up 26 percent year on year.
In the first half of 2018, Tencent achieved the revenue of 147.2 billion yuan with a year-on-year increase of 39 percent.
According to its filing to the stock exchange, the company's revenue in second quarter reached 73.68 billion yuan, up 30 percent year on year.
Tencent said that the 30-percent revenue increase in the second quarter was mainly driven by payment related services, digital content ordering and sales, social and other advertising, and smart phone games.
However, its net profits in the second quarter of the year amounted to about 17.87 billion yuan, down 2 percent year on year and 23 percent quarter on quarter, lower than market expectations.
Earlier, analysts had expected Tencent's net profits in the second quarter to grow by about 2.2 percent.
Under the Non-GAAP standard, its net profit in second quarter reached 19.72 billion yuan, up 20 percent year on year and 8 percent quarter on quarter. (Edited by Jiang Feifan, [email protected])
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