WeChat Owner Tencent’s Shares Surge Over 5%
Chinese Tech Major, Tencent Holdings shares in Hong Kong surged over 5 percent Thursday after it posted a record quarterly profit for the three months to March.
WeChat owner Tencent has its market capitalisation floating at over $22 billion as shares traded at 416.4 Hong Kong dollars ($53) during afternoon trade.
Even Company's online games which are intensely popular like Honour of Kings have boosted revenues by 26%.
The company in its official statement said,
The growth in our payment solution business was mainly contributed by the rapidly increasing offline commercial transaction volumes and consumer cash withdrawal fees.
WeChat which resembles WhatsApp in functionality to a lot of extents has now become China's biggest social network. The messaging app is an important source...