Tencent Holdings Ltd., the Chinese investment holding company touched its highest in about nine months helped by investments in social networking and games.
The biggest Internet company in Asia, posted a 45 percent jump in quarterly sales surpassing expectation. Tencent has been developing its content in order to attract users to its most recent smartphone games. Not only that; the company based in Shenzhen, China, is also driving the growth in advertisement on social networks.
On Thursday, the company reported a net income of 7.16 billion yuan or $1.1 billion for the quarter that ended December. Though profit remained below expectations mainly due to increased spending, its sales moved up to 30.4 billion yuan surpassing analysts' expectations for 27.8 billion yuan.
The company is buying rights of anime, video, comics and novels for converting into mobile games that are promoted through its WeChat and QQ instant message systems.
Shares of the company climbed about 4.5 percent to HK$159.20 in Hong Kong, its highest intraday jump since June 29.
WeChat and QQ in total have greater than a billion users and Tencent is thought to be moving on the footsteps of Facebook Inc. as it experiments with new options to perk up earnings through its social network options.
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