 Bloomberg -- Tencent Holdings Ltd. tried to reassure investors that U.S. President Donald Trumps ban on its WeChat messaging service may apply only to its overseas operations, suggesting the impact on the worlds largest gaming corporation should be modest.The Chinese companys shares gained as much as 2 in Hong Kong. During a conference call after earnings, executives repeatedly emphasized the distinction between WeChat, which is used outside China, and Weixin, a similar service within the country. Trumps executive order specifically mentioned banning the former because of alleged risks to American national security.The executive order is focused on WeChat in the United States and not other businesses in the U.S., said Chief Financial Officer John Lo. We are in the process of seeking further clarification from bipartisan parties in the U.S.Trump ignited a furor after signing the order to ban U.S. entities from dealing with WeChat -- along with TikTok, ByteDance Ltd.s viral video platform -- from September. Confusion reigned as investors grappled with the sweeping language of Trumps order -- which bars transactions with the Chinese company -- that leaves the door open for the administration to extend it well beyond the service in America.Tencents Retro Roots Juice Its Pandemic Profits: Tim CulpanDespite stating at the outset it wouldnt get into hypotheticals, Tencent fielded question after question revolving round the ban, which wiped 66 billion off the companys market value after it was announced last week. Executives said several times they were still figuring out how the order would be applied.Their comments came after Tencent boosted revenue at the fastest pace in two years and reported profit that beat the highest analyst estimate. Sales rose 29 to 114.9 billion yuan 16.5 billion in the three months ended June, while net income increased to 33.1 billion yuan.The expectation has been that Trumps order would result in WeChat getting pulled from Apple and Googles app stores, where the vast majority of smartphone owners get their applications. That would mean suspending updates or even blacking out a service vital to communications on the factory floor, in households and the boardroom. Apple Inc. would be at particular risk if it couldnt offer the software on iPhones in China.Read more: Apples 44 Billion China Market Threatened by Trump WeChat BanWhat Bloomberg Intelligence SaysHeightened usage of Tencents digital services driven by Covid-19 may boost the companys earnings in the coming quarters. The online game business could continue to expand through the year with popular new titles in the pipeline and enhanced monetization features. Media advertising sales might remain subdued due to weak demand and delayed video content, but social-advertising growth could stay robust.- Vey-Sern Ling and Tiffany Tam, analystsClick here for the research.Tencent executives also fielded questions about whether American companies would be able to keep doing business with the Chinese tech giant. U.S. companies like Starbucks Corp. and Walmart Inc. collaborate with Tencent in China and generate advertising and e-commerce revenue for the company. The U.S. represents less than 2 of Tencents global revenue, executives said.When we saw the executive order a couple days ago, they specify quite clearly they cover the U.S. jurisdiction, and consequently, we dont see any impact on companies advertising on our platform in China, said James Mitchell, chief strategy officer.Chinas biggest social media company has benefited from an internet resurgence during the coronavirus pandemic. It won approval from Beijing to earn money from Call of Duty Mobile, the smartphone version of a long-running franchise that will underpin its gaming business, and has charted a line-up of new titles for 2020 to shore up resilient franchises Peacekeeper Elite and Honor of Kings.New titles like Brawl Stars drove a 40 surge in online gaming revenue during the quarter -- its biggest increase since 2017. Its also driving discussions to merge U.S.-listed Huya Inc. and DouYu International Holdings Ltd. to create a Twitch-like 10 billion local leader in games streaming. Tencent has already folded Huyas results into its own, swelling both its top and bottom line.One risk to its outlook was the surprise delay of Mobile DungeonFighter, though analysts expect eventual approval for a Nexon Co. title thats supposed to be Tencents tent-pole for the second half.Although the direct revenue impact is small, Mobile DnFs delay and the WeChat ban in the U.S. cast a shadow over the near term outlook, Bernstein analyst David Dai said.Read more: Trumps WeChat Assault Endangers 280 Billion Tencent RallyRead more: Trumps Assault on WeChat Endangers a 280 Billion Tencent RallyThe WeChat and Weixin services grew monthly active users 6.5 to more than 1.2 billion as of Junes end. Started in 2011 as a WhatsApp clone, the app has become deeply ingrained in Chinese life, indispensable to the hordes who use it to chat, shop, watch videos, play games, flirt, order food and taxis. It pioneered the all-in-one or super-app concept by embedding lite apps or mini programs -- a model emulated by Alibaba Group Holding Ltd. as well as Facebook Inc. Its success sprang in part from the fact that China banned global services such as WhatsApp, Twitter and Instagram, allowing WeChat and a host of other Chinese equivalents to flourish in an alternate internet realm.Uncertainties still exist for Tencent and other Chinese internet companies with business in the U.S., and Chinese pure-plays will be perceived as safer by investors, Dai wrote before earnings were released.Read more: Why Tencent and WeChat Are Such a Big Deal in China: QuickTakeUpdates with share action from the second paragraphFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P. 