Pay to play

18 March 2016 By Robyn Mak Follow @mak_robyn

The Chinese web giant’s revenue topped $5 bln in the fourth quarter, fuelled by mobile games and explosive growth in advertising. To keep up with rivals, the group has been investing heavily in e-commerce and finance. So long as it keeps growing, Tencent can sustain the spree.

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Chinese gaming and social media group Tencent on March 17 reported revenue of 30.4 billion yuan ($4.7 billion) for the quarter ending December, an increase of 45 percent year on year.

Earnings increased 22 percent from the same period in 2014 to 7.2 billion yuan.

Tencent operates China’s most popular messaging and social media app, WeChat, which had 697 million monthly active users as of the end of 2015.

Tencent shares rose 3.2 percent to HK$157.10 by midday in Hong Kong on March 18.

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