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Tencent Q1 revenue rises 9% on gaming and AI demand, but misses estimates.
companies :: 3hrs ago :: source - reuters
By Reuters
(Reuters) - Tencent Holdings reported first-quarter revenue growth of 9% on Wednesday, as China's largest social media and gaming company benefited from robust demand for its games and expanding artificial intelligence services.
The Shenzhen-based company posted revenue of 196.5 billion yuan ($28.94 billion) for the three months ended March 31, compared with 198.96 billion yuan expected by analysts polled by LSEG.
Net profit came in at 58.1 billion yuan, versus estimates of 61.42 billion yuan.
($1 = 6.7902 Chinese yuan renminbi)
(Reporting by Liam Mo in Beijing and Miyoung Kim in Singapore)
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