HONG KONG: Chinese Internet giant Tencent said its profits jumped by 47 percent in the second quarter, buoyed by new users of its popular messaging service WeChat, gaming and digital content.
Net profit for the three months to June rose to 10.74 billion yuan ($1.62 billion) from 7.31 billion yuan in the same period last year, beating the average analyst estimate of 9.52 billion yuan according to a Bloomberg survey.
Revenue jumped by 52 percent from 23.43 billion yuan to 35.69 billion yuan, the technology company said.
Based in the Chinese southern export hub of Shenzhen, Tencent operates China’s biggest messaging service WeChat, through which a variety of businesses including gaming, advertising and social networking have flourished in recent years.
Monthly active users for WeChat — known as Weixin in Chinese — reached 806 million from 600 million in June last year.
The company’s messaging service is expanding into the corporate sector. The company said Weixin “further penetrated into communication scenarios at work,” with 20 million active users registered on its platform for enterprises.
Tencent’s online games business grew by 32 percent to 17.12 billion yuan in revenues in the second quarter, helped by existing gaming offerings including popular Cross Fire Mobile and Honor of Kings, it said.
“In recent months, we have conducted several initiatives to develop our online games and digital content businesses,” Chairman Ma Huateng said in a statement to the Hong Kong Stock Exchange, where it is listed.
The company announced in June it had agreed to buy Finnish game-maker Supercell Oy, creator of “Clash of Clans,” from Japanese mobile firm SoftBank for $8.6 billion.
It said in the statement the deal would be completed by the end of the year.
WeChat owner Tencent sees profits surge
WeChat owner Tencent sees profits surge
Closing Bell: Saudi main index rises to close at 10,912
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 93.86 points, or 0.87 percent, to close at 10,912.18.
The total trading turnover of the benchmark index stood at SR3.03 billion ($809 million), with 230 stocks advancing and 29 declining.
The Kingdom’s parallel market Nomu also gained 29.13 points, or 0.12 percent, to close at 23,442.91, as 43 stocks advanced and 25 retreated.
The MSCI Tadawul Index added 9.48 points, or 0.65 percent, to end the session at 1,466.52.
Arabian Shield Cooperative Insurance Co. was the best-performing stock of the day, with its share price surging 8.55 percent to SR11.94.
Other top performers included CHUBB Arabia Cooperative Insurance Co., which rose 6.33 percent to SR23.50, and BAAN Holding Group Co., whose shares climbed 6.06 percent to SR2.10.
United International Holding Co. recorded the steepest decline, falling 2.34 percent to SR146.20.
SEDCO Capital REIT Fund also saw its share price drop 2.17 percent to SR6.77, while Saudi Manpower Solutions Co. declined 1.58 percent to SR5.60.
On the corporate front, Saudi Electricity Co. announced the completion of a US dollar-denominated senior unsecured sukuk issuance under its international sukuk program, offered to eligible investors in Saudi Arabia and globally.
According to a Tadawul statement, the company completed the issuance of a three-tranche sukuk with maturities of three, six and 10 years, raising an aggregate $2.4 billion. The sukuk will be listed on the London Stock Exchange’s International Securities Market.
Saudi Electricity Co. closed the session at SR14.09, down 0.57 percent.
Najran Cement Co. said it has secured a mid-term, Shariah-compliant loan of SR50 million from Saudi National Bank to support subsidiary expansion. A bourse filing said the financing will be repaid over five years in semi-annual instalments, with a six-month grace period.
Najran Cement Co. ended the session at SR6.59, up 0.92 percent.
Almarai Co. announced its consolidated financial results for the year ended Dec. 31, 2025, reporting a net profit of SR2.45 billion, up 6.2 percent year on year.
According to a Tadawul statement, the increase was driven by higher revenue growth, disciplined cost control, an improved revenue mix and lower funding costs.
Almarai Co. closed at SR43.60, up 0.97 percent.
