Power moves

22 March 2017 By Robyn Mak Follow @mak_robyn

The Chinese web giant’s revenue surged 44 pct to $6 bln in the fourth quarter, powered by games and advertising. Fast-growing payments and cloud computing units also contributed. To sustain growth and keep rivals at bay, Tencent’s acquisition machine will have to go up a level.

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Chinese gaming and social media giant Tencent on March 22 reported revenue of 43.9 billion yuan ($6.3 billion) in the three months to December, an increase of 44 percent from the same period last year.

Net profit for the period rose 47 percent year on year to 10.5 billion yuan.

Tencent's popular WeChat messaging platform had 889 million monthly active users as of December. The company also said its mobile payments services surpassed 600 million monthly active users.

The results were announced after the close of trading on March 22. Tencent's Hong Kong-listed shares, which closed at HK$225.20, have risen 23.6 percent in the past three months.

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