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Tencent Q2 profits surge 27 pct on online game, advertising growth

Xinhua, August 12, 2015 Adjust font size:

Chinese Internet giant Tencent Holdings reported Wednesday a 27 percent year on year jump in profits for Q2 of 2015 as revenues from online games and advertising recorded robust growth.

The company reaped 7.39 billion yuan (about 1.2 billion U.S. dollars) of profits, up 7 percent from the Q1, it said in a statement to the Hong Kong Stock Exchange, on which it is listed.

Revenues rose 19 percent year on year to 23.43 billion yuan in Q2, bringing the total income for the first half of 2015 to 45.83 billion yuan.

Pony Ma, chair and CEO of Tencent, said the company maintained its leading position in online gaming, social networks and media development and achieved solid financial results.

Value-added services contributed the lion's share of quarterly revenues, increasing 17 percent year on year to 18.43 billion yuan, with online games revenues also up 17 percent to reach 12.97 billion yuan.

Tencent said growth was mainly driven by higher consumption from core gamers on personal computers and by smart phone games.

Online advertising soared 97 percent year on year to 4.07 billion yuan in Q2 over strong growth in mobile social network advertising and video ads.

Social networks also expanded, raking in 5.46 billion yuan of profits, up 18 percent year on year.

Monthly active user accounts on WeChat, or Weixin, the company's popular instant messaging service, reached 600 million as of the end of June, up 37 percent year on year. Endi