Tencent's net profit rose 17% in the first quarter

Chinese Internet company Tencent reported that in the first quarter of this year, its net profit grew by 17% from the same period a year earlier to 27.21 billion yuan. Experts had expected less significant profit growth - up to 19.9 billion yuan. At the same time, Tencent's revenue had not reached the economists forecast of 88.41 billion yuan, amounting to 85.47 billion yuan. Its annual growth was at 16%. The instant messaging service QQ increased the number of active users by 2.2% to 823 million people. At the end of the quarter, Weixin and WeChat systems were used by 1 billion 112 million people, their number increased by 6.9% over the year. The quarterly report of the new Financial Technologies and Business Services segment showed revenue growth of 44% to 21.8 billion yuan. The company increased revenue from online advertising by 25% and reduced revenue from online games by 1%.

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