Tencent profits up 47% on mobile gaming

Tencent reported a better-than-expected 47% rise in second-quarter net profit, as the Chinese internet giant’s revenue from mobile games more than doubled, The Wall Street Journal reports. The strong second-quarter results come as Tencent is in the midst of completing its acquisition of Finland’s Supercell Oy, the maker of “Clash of Clans”, in a move that could further boost its revenue from games. China’s biggest social-network company, which operates the popular WeChat messaging application, generates roughly half its revenue from games distributed through its two major social platforms and its own app store. Tencent said Wednesday that its net profit for the three months ended June 30 rose to 10.73 billion yuan ($1.61 billion) from 7.31 billion yuan a year earlier. Revenue jumped 52% to 35.69 billion yuan.