Tencent became the country's most valuable enterprise in September, overtaking state-owned behemoth China Mobile, three months after buying the creator of popular games "Clash of Clans" and "Clash Royale" for $8.6 billion. In a filing late Wednesday, it announced net profit for July-September rose 43 per cent on-year to 10.65 billion yuan ($1.56 billion) thanks to an 87 per cent jump in revenue to 9.9 billion yuan from smartphone games. Total revenue came in at 40.39 billion yuan, up 52 per cent. However, the figures came in below forecasts, while it also said mobile game sales rose just three per cent from the previous quarter. "I did expect the mobile gaming sector to rise over 90 per cent," Wong, the associate director of Hong Kong-based Simsen Financial group, said.

Source: The Nation Bangkok November 17, 2016 10:07 UTC