Your Name:Tencent Holdings (0700) reported today net profit increased by 6 percent from the year before to 28.89 billion yuan for the first quarter of 2020. Revenues for the quarter ended March 31, increased by 26 percent on-year to 108.1 billion yuan. Fintech services revenue fell sequentially as payment activities, especially offline transactions, and cash withdrawals dropped during the Chinese New Year and stay-at-home period, Tencent said. Revenues from online advertising increased by 32 percent to 17.71 billion yuan. Social and other advertising revenues grew by 47 percent to 14.59 billion yuan.

Source: The Standard May 13, 2020 09:22 UTC