Salem Radio Network News Saturday, November 27, 2021

Business

Tencent reports 3% jump in third-quarter profit, beating expectations

SHANGHAI (Reuters) – Chinese gaming and social media giant Tencent Holdings posted a 3% rise in third-quarter profit, beating analyst expectations as it flagged the impact of heightened regulatory scrutiny and an advertising slowdown.

Net profit for the three months through September rose to 39.5 billion yuan ($6.18 billion), above an average Refinitiv estimate of 35 billion yuan drawn from 14 analysts.

($1 = 6.3917 Chinese yuan renminbi)

(Reporting by Brenda Goh; Editing by Andrew Heavens)

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