BEIJING/SINGAPORE, Might 13 (Reuters) – Tencent Holdings reported first-quarter income development of 9% on Wednesday, as China’s largest social media and gaming firm benefited from strong demand for its video games and increasing artificial intelligence companies.
The Shenzhen-based firm posted income of 196.5 billion yuan ($28.94 billion) for the three months ended March 31, in contrast with 198.96 billion yuan anticipated by analysts polled by LSEG.
Web revenue got here in at 58.1 billion yuan, versus estimates of 61.42 billion yuan.
($1 = 6.7902 Chinese language yuan renminbi)
(Reporting by Liam Mo in Beijing and Miyoung Kim in Singapore)