Here’s how: Chinese tech titan adds $34bn to its market value

Tencent’s gaming, WeChat all saw strong growth

Chinese tech giant Tencent Holdings posted a 61 per cent year-on-year jump in profit, sending its market capitalization uo by as much as $34bn today.

On Wednesday, the Chinese technology giant, with a market cap of $504bn, posted better-than-expected net profit and gross profit margin for the first quarter. Tencent’s gaming, video streaming, and WeChat messaging businesses all saw strong growth.

Here’s Page 1 of Tencent’s 1Q earnings announcement with all the key numbers. pic.twitter.com/OzQIZDDwre

— Tim Culpan (@tculpan) May 16, 2018

Following this trading update, shares of Tencent jumped 5 per cent by midday trading, to a five-week high.