The owner of WeChat, the social network that is nearly ubiquitous in China, reported a 61 per cent rise in third-quarter sales. Fuelled by advertising and hit game Honour of Kings, the growth was the fastest since 2010, when revenue was a mere one-fourteenth of its current level. HONG KONG—Tencent Holdings Ltd. is defying the law of large numbers, posting accelerating revenue growth and topping the most optimistic of analyst estimates. Net income surged 69 per cent to 18 billion yuan, also blowing past projections for 15.8 billion yuan. It’s also plowing money into music, ebooks and video streaming — the content it needs to keep users hooked on its WeChat social media and messaging service.

Source: thestar November 15, 2017 17:37 UTC