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Chinese technology giant Tencent reported first quarter results which exceeded expectations, helped by robust revenues from its hit mobile games<br><br>Chinese technology giant Tencent on Wednesday reported first quarter results which exceeded expectations, helped by robust revenues from its hit mobile games.<br><br>Its overall [http://search.Usa.gov/search?affiliate=usagov&query=revenue revenue] jumped 55 percent to 49.55 billion yuan year-on-year, while net profit was up 58 percent at 14.48 billion yuan. Analysts polled by Bloomberg News expected 46.4 billion yuan in revenue and 13 billion yuan in net profit.<br><br>Revenue from its smartphone games achieved 12.9 billion yuan ($1.88 billion) alone in the first quarter, a 57 percent year-on-year growth.<br><br>Analysts said the results were helped by Tencent's fantasy role-playing hit title Honour of Kings.<br><br>"Tencent�s mobile gaming business was the main contributor, especially Honour of Kings, which is probably generating two to three billion yuan of revenue a month," RHB  [http://ledtruongan.com/danh-muc/nguon-led-5v-12v/nguon-adapter/ nguồn adapter 12v 5a] Research Institute analyst Li Yujie told Bloomberg.<br><br>Tencent also operates China's biggest messaging service WeChat through which a variety of businesses including gaming, advertising and social networking have flourished in recent years.<br><br>Monthly active users for WeChat reached 938 million for the quarter, a year-on-year growth of 23 percent.<br><br>However, the company saw a setback in May after Russia blocked its WeChat messaging app.<br><br>Russia's telecoms watchdog said the messaging service "did not provide its contact information for the register of information distribution organisations".<br><br>A law passed in 2014 requires foreign messaging services, search engines and social networking sites to store the personal data of Russian users inside Russia.<br><br>Sites that breach the law are added to a blacklist and internet providers are obliged to block access.<br><br>Tencent became China's most valuable firm in September, beating state-owned telecom behemoth China Mobile and nearly reaching half of Apple's valuation.<br><br>In March, it bought a five percent stake worth US$1.8 billion in the Tesla electric car company.
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