* Q4 profit 2.54 bln yuan vs 2.58 bln yuan forecast
* Company to expand online advertising business
* Looking to invest in e-comment and search
March 14 (Reuters) – Tencent Holdings Ltd,
China’s biggest Internet company by revenue, reported a 15
percent rise in quarterly profit on Wednesday, in line with
analysts’ estimates, as growth in its online advertising and a
budding game market offset the tepid performance of more mature
titles.
Tencent spent the last year diversifying into travel and
social networking as it faces stiff competition from online game
operators like Shanda Games Ltd and Netease.com Inc
and tries to maintain growth in its online game sector.
Going forward, Tencent said it would focus on boosting its
market share in China’s online game market and the online
advertising business.
“We will continue to invest selectively, but forcefully, in
emerging growth opportunities, notably e-commerce and search,”
the company said in a statement.
Tencent posted a 15.3 percent rise in fourth-quarter net
profit to 2.54 billion yuan ($401.45 million), in line with
analysts’ forecast of 2.58 billion yuan. Net margins rose 32.2
percent in the quarter from 32.6 percent in the previous
quarter.
The firm said its instant-messaging platform for
smartphones, Weixin, achieved significant user growth. Analysts
are hopeful that Weixin will help Tencent capture highly
lucrative white-collar users that have eluded a company whose
customers are mostly students.
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