Profits Hit $11 Billion at China’s Tencent as Video Surges

Net profits at Tencent, China’s social media, music and video giant, hit $10.9 billion in 2017, a gain of 74%. Revenues increased by 56% to $36.4 billion as the company claimed to have become the Chinese market leader in streaming video. “Tencent Video achieved rapid growth in traffic and paying users driven by the popularity […]

Net profits at Tencent, China’s social media, music and video giant, hit $10.9 billion in 2017, a gain of 74%. Revenues increased by 56% to $36.4 billion as the company claimed to have become the Chinese market leader in streaming video. “Tencent Video achieved rapid growth in traffic and paying users driven by the popularity […]