19 September 2018

Tencent 3Q net profit up 20%, filing says

Tencent Holdings Ltd. (00700.HK) posted a net profit of 3.88 billion yuan (US$628.9 million) in the third quarter, up 20.1 percent from a year earlier, it said in a regulatory filing Wednesday.

Revenue rose 34.3 percent to 15.54 billion yuan, with e-commerce doubling to 2.36 billion yuan, 15.2 percent of turnover.

Meanwhile, Tencent said it will work closely with Sogou Inc. on joint development, cross-promotion and integration of related products and services. Also, the two companies will cooperate on search technology and data sharing.

Sogou will have direct access to Tencent’s user base.

Tencent holds 36.5 percent of Sogou equity and 20.6 percent of voting right after it made a strategic investment in Sogou on Sept. 16, according to a separate filing.

– Contact HKEJ at [email protected]


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