Net income for Tencent (700.HKG) rose 46% to RMB5.66 billion (US$923 million) in the third quarter, falling short of an RMB6.1 billion average of analyst estimates, Bloomberg reported, citing an earnings statement from the company. Revenue rose 28%, the slowest quarterly pace in more than seven years, to RMB19.8 billion, partly due to the sale of its e-commerce business. Tencent is seeking to capture the consumer shift to mobile devices as it adds new games and offerings to its WeChat (Weixin) and QQ messaging services to draw revenue from the free apps’ users.
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