{"id":8904,"date":"2012-03-14T15:10:22","date_gmt":"2012-03-14T13:10:22","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-chinas-tencent-says-q4-profit-rises-15-percent\/"},"modified":"2012-03-14T15:10:22","modified_gmt":"2012-03-14T13:10:22","slug":"update-1-chinas-tencent-says-q4-profit-rises-15-percent","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-chinas-tencent-says-q4-profit-rises-15-percent\/","title":{"rendered":"UPDATE 1-China&#8217;s Tencent says Q4 profit rises 15 percent"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Q4 profit 2.54 bln yuan vs 2.58 bln yuan forecast<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Company to expand online advertising business<\/p>\n<p><span><\/span><\/p>\n<p>* Looking to invest in e-comment and search<\/p>\n<p><span><\/span><\/p>\n<p>March 14 (Reuters) &#8211; Tencent Holdings Ltd,<br \/>\nChina&#8217;s biggest Internet company by revenue, reported a 15<br \/>\npercent rise in quarterly profit on Wednesday, in line with<br \/>\nanalysts&#8217; estimates, as growth in its online advertising and a<br \/>\nbudding game market offset the tepid performance of more mature<br \/>\ntitles.<\/p>\n<p><span><\/span><\/p>\n<p>Tencent spent the last year diversifying into travel and<br \/>\nsocial networking as it faces stiff competition from online game<br \/>\noperators like Shanda Games Ltd and Netease.com Inc<br \/>\n and tries to maintain growth in its online game sector.<\/p>\n<p><span><\/span><\/p>\n<p>Going forward, Tencent said it would focus on boosting its<br \/>\nmarket share in China&#8217;s online game market and the online<br \/>\nadvertising business.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We will continue to invest selectively, but forcefully, in<br \/>\nemerging growth opportunities, notably e-commerce and search,&#8221;<br \/>\nthe company said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>Tencent posted a 15.3 percent rise in fourth-quarter net<br \/>\nprofit to 2.54 billion yuan ($401.45 million), in line with<br \/>\nanalysts&#8217; forecast of 2.58 billion yuan. Net margins rose 32.2<br \/>\npercent in the quarter from 32.6 percent in the previous<br \/>\nquarter.<\/p>\n<p><span><\/span><\/p>\n<p>The firm said its instant-messaging platform for<br \/>\nsmartphones, Weixin, achieved significant user growth. Analysts<br \/>\nare hopeful that Weixin will help Tencent capture highly<br \/>\nlucrative white-collar users that have eluded a company whose<br \/>\ncustomers are mostly students.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* 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) &#8211; Tencent Holdings Ltd, China&#8217;s biggest Internet company by revenue, reported a 15 percent rise in quarterly profit on Wednesday, in line with analysts&#8217; estimates, as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8904","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8904"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8904\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}