Trending: Tencent's Fourth-Quarter Profit Rose 12% Despite Challenges
0412 GMT - Tencent Holdings Ltd. is one of the most mentioned companies in the news over the past six hours, according to Factiva data, after it beat expectations in fourth-quarter earnings results reported Wednesday. Tencent posted net profit of 106.27 billion yuan ($15.44 billion), with a one-off gain of CNY106.6 billion from the sale of Meituan stock helping it to a 12% improvement from a year earlier and to exceed the CNY29 billion analyst estimate compiled by Factset. Revenue also beat expectations, rising 0.5% from a year earlier and exceeding the Factset estimate by 0.8%. The surprise profit beat helped Tencent's Hong Kong shares to rise 5.6% in morning trade. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
March 23, 2023 00:27 ET (04:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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