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China’s Tencent set to open 5.3 percent up after strong second-quarter

August 17, 2017 HONG KONG (Reuters) – Shares of China’s Tencent Holdings are set to open 5.3 percent higher on Thursday after the world’s largest gaming company reported a forecast-beating quarterly profit. The stock is set to open at record high at HK$340.40. That compared with a 0.7 percent rise in the benchmark index. China’s biggest gaming and social media firm by revenue, trumped forecasts on Wednesday to post its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising. (Reporting by Donny Kwok; Editing by…

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Chinese start-up Mobike gains $600 million in biggest financing round to date

June 16, 2017 By Cate Cadell BEIJING (Reuters) – Chinese bike-sharing start-up Mobike said it has raised $600 million in a financing round led by Tencent Holdings Ltd, its biggest financing round to date as it seeks to expand aggressively. With the latest injection the firm, which has operations in around 100 Chinese cities, has raised over $900 million since October. It has also expanded to Singapore, and recently launched a pilot service for 1,000 bikes in the UK, starting in the cities of Manchester and Salford. “We will accelerate…

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China’s Tencent fourth-quarter profit jumps 47 percent on payment, cloud revenue surge

March 22, 2017 By Sijia Jiang HONG KONG (Reuters) – Tencent Holdings Ltd, China’s biggest social media and online entertainment company, posted a 47 percent rise in quarterly profit on Wednesday, helped by strong growth in new revenue streams such as payment and cloud services. Net profit for the three months through December rose 47 percent to 10.53 billion yuan ($1.53 billion), compared with the 11.75 billion yuan average of six estimates from analysts in a Thomson Reuters poll. Full-year profit stood at 41.1 billion yuan, up 43 per cent,…

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