Tencent's quarterly profit jumps 89%, above forecast

FILE PHOTO: A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

HONG KONG (Reuters) – Chinese gaming and social media giant Tencent Holdings Ltd 0700.HK reported on Thursday a forecast-beating 89% rise in quarterly profit.

The world’s largest gaming firm by revenue booked a 38.5billion yuan ($5.81 billion) profit for the three months throughSeptember. That was ahead of an analyst average estimate of 30.81 billion yuan, according to data from Refinitiv.

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