Tencent shares up as WeChat users rise to 600 million

Shares in online services conglomerate Tencent (0700.HKG) closed up 0.44% after the firm posted a 25% increase in net profit to RMB7.3 billion (US$1.143 billion) last quarter, up from RMB5.8 billion in the same period last year, with total revenue up 19% to RMB23.4 billion, South China Morning Post reported, citing a filing to the Hong Kong Stock Exchange. The company attributed the gains to steady growth in its social and media platforms, mobile and online gaming businesses, and online advertising. Monthly active users on mobile app WeChat – Tencent’s ever-expanding platform for payment, social media, advertising and games – were up 37% to 600 million at the end of June.