Tencent said third-quarter net profit rose 43% from a year earlier on solid revenue growth from mobile games and advertising, The Wall Street Journal reports. Shenzhen-based Tencent, one of Asia’s most valuable technology companies with a market capitalization of roughly $240 billion, generates most of its revenue by distributing games and ads through its popular social-networking platforms such as the WeChat messaging application, which has more than 800 million users. Tencent said net profit for the three months ended Sept. 30 rose to 10.65 billion yuan ($1.55 billion) from 7.44 billion yuan a year earlier, while revenue jumped 52% to 40.39 billion yuan. Tencent’s quarterly results highlighted the robust performance of smartphone games, which made up for slower growth in revenue from games played on personal computers.
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