Tencent Profits Soar In First Quarter Of 2021

On May 20th, Tencent Holdings Ltd. reported a 65% increase in quarterly revenue, beating forecast predictions. The organization said it made $7.42 billion in revenue for the first three months of 2021 through the end of March.

Revenue went up 25% to $21.17 billion. Market expectations forecast the revenue would be $21.02 billion for the first quarter of 2021.

The organization also said that money that came from esports increased. Tencent saw a 17% jump in revenue from online gaming.

Tencent Holdings Ltd. stock is currently valued at $78.76 a share as of 12:38 PM EST on May 26th, 2021.

(All information was provided by The Economic Times and Yahoo! Finance)

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