Tencent Holdings Ltd reported an 89% rise in quarterly profit on Thursday, with its blockbuster game Honour of Kings which reported a record of 100 million daily active users in the first 10 months of 2020.
Tencent made 38.5 billion yuan ($5.8 billion) profit for the three months through September. That was ahead of an analyst average estimate of 30.81 billion yuan, according to data from Refinitiv. Revenue rose 29% to 125.4 billion yuan.
Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company. Founded in 1998, its subsidiaries globally market various internet-related services and products, including in entertainment, artificial intelligence, and other technology. Tencent is the world’s largest video game vendor, as well as one of the most financially valuable companies. It is among the largest social media, venture capital, and investment corporations. Its services include social networks, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games.
The company’s shares on Thursday closed 4.72% up, against a 0.22% decline in the Hang Seng index.
