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Home / Companies / Tencent Q4 net income up 51%, misses forecasts

Hong Kong: Tencent Holdings Ltd , China’s biggest social network and online entertainment firm, posted a 51% gain in fourth-quarter net income, missing estimates, as sharing and content costs took a bite out of healthy revenue growth.

Net income for the quarter ending December rose to ¥5.95 billion ($955.9 million), below estimates of ¥6.26 billion, according to a Thomson Reuters SmartEstimate poll of 11 analysts.

Revenue grew 24% to ¥20.978 billion ($3.37 billion), slightly above forecasts of ¥20.5 billion, on the back of strong sales from online gaming on PCs and smart phones linked to social networks like hit app WeChat. Reuters

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