Chinese company Tencent has reported a 75% hike in profits for the fiscal year ending 31 December 2017 to CNY72.47bn ($US$400 million), while total revenues for the year rose 56% to CNY237.76bn. Tencent attributed the robust figures to value-added services including its WeChat messenging service, which saw a 43% hike in revenue to CNY154bn, and online advertising, which rose by almost 50% to reach CNY40.44bn. Social and other ad revenue increased by 65% to CNY25.61bn, while increased video traffic led to revenue of CNY14.83bn for media ads, a rise of 30%.
Chinese company Tencent has reported a 75% hike in profits for the fiscal year ending 31 December 2017 to CNY72.47bn ($11.09bn), while total revenues for the year rose 56% to CNY237.76bn. Tencent attributed the robust figures to value-added services including its WeChat messenging service, which saw a 43% hike in revenue to CNY154bn, and online advertising, which rose by almost 50% to reach CNY40.44bn. Social and other ad revenue increased by 65% to CNY25.61bn, while increased video traffic led to revenue of CNY14.83bn for media ads, a rise of 30%.