Chinese tech giant Tencent's quarterly profit jumps 82% as key gaming unit accelerates

Tencent has surpassed expectations for its second-quarter revenue and profit, driven by strong growth in its gaming division. The company reported 161.12 billion Chinese yuan in revenue, exceeding the expected amount of 160.77 billion yuan. Additionally, the profit attributable to equity holders was 47.63 billion Chinese yuan, surpassing the estimate of 39.95 billion yuan. Following a decline in revenue last year, Tencent has been focused on revitalizing its gaming business. The anticipation around a new game called Dungeon & Fighter Mobile has contributed to the company’s 28% increase in shares this year. DnF Mobile has been a top-grossing game in China, similar to Tencent’s previous success with Honor of Kings.