YICAI GLOBAL - Tencent Holdings reports a 39% increase in Q3 net profit, reaching CNY 44.9B, attributed to stringent cost controls and a strategic shift to its primary business. The revenue rose by 10% to CNY 154.6B. Tencent's emphasis on controlling costs led to a higher net profit growth compared to revenue growth. The company closed down non-core businesses, including Penguin FM and certain online games, streamlining its focus. Revenue from online advertising and financial technology increased, contributing to notable margin expansion and structural operating leverage.
See full article at Yicai Global
See the top news on Tencent
