Tencent Holdings Limited (TCEHY) released decent second-quarter results. The stock price gained 3.7%, to close at $57.20 on August 18. Tencent is the world's leading provider of online chat and payment services in China. It also has a booming cloud computing company and offers online gaming. Let’s take a quick look at the earnings. Revenues grew 20% year-over-year to RMB138.3 billion (USD21.4 billion). Meanwhile, net profit came in at BMB42.6 billion (USD6.5 billion), which jumped about 29% year-over-year. The second quarter's results were boosted by strong business services and advertising, strong demand for games, and increased digitalization of public services and traditional sectors.
https://www.tipranks.com/news/article/regulatory-hurdles-harming-tencent-holdings-despite-strong-earnings?utm_source=advfn.com&utm_medium=referral