Tencent Holdings Reported a Solid Q1FY2020 Results; Shares Improved by 4.48%

May 14, 2020 12:26 PM AEST
Team Kalkine

Tencent Holdings Limited, which lately became a substantial holder in Afterpay Limited (ASX:APT) reported an increase in its share price after it revealed its FX-adjusted quarterly profit of USD 3.95 billion and total revenue of USD 15.252 billion. It has net cash of USD 31.1 billion by the end of March 2020 quarter.

During the quarter, there was an increase in the online gaming business revenue by 31% to RMB37.29 billion.

Tencent’s shares improved by 4.48% by the closure of Hong Kong Stock exchange.

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