Tencent Q2 profit beats estimates on strong games demand

Logos of Tencent are displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu

Chinese gaming and social media giant Tencent Holdings Ltd said second-quarter net profit rose 37%, beating market estimates, on higher demand for its video games as coronavirus put a dent in other entertainment options.

Revenue from online games, which accounts for one-third of total sales, jumped 40% in the quarter, primarily driven by smartphone games including Peacekeeper Elite and Honour of Kings. That offset a continued decline in desktop games.

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