Chinese gaming and social media giant Tencent Holdings Ltd reported on Thursday a forecast-beating 65% rise in quarterly profit.
Tencent, the world’s largest gaming firm by revenue, booked profit of 47.77 billion yuan ($7.42 billion) for the three months through March, higher than the average analyst estimates published by Refinitiv of 35.45 billion yuan.
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Revenue rose 25% to 135.3 billion yuan, versus market expectations of 134.39 billion yuan.
Tencent, which has benefited from a surge in paying users for video games in China and international markets, said revenue from online games grew by 17%.