Tencent reports higher earnings than estimated, boosting Naspers

Hong Kong — Tencent’s quarterly earnings beat estimates, boosted by gains on investments, giving shareholders much-needed assurance that the Chinese gaming behemoth was bound for a revival.

Now that regulators are again green-lighting titles, investors are counting on the worst being over as the company invests in video and news personalisation to win back users from Bytedance. “We expect to see a more diversified and sustainable recurring revenue model for Tencent’s mobile games.”

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