Tencent profit almost doubles

25 May 2009

First-quarter profit of Chinese Internet portal Tencent Holdings nearly doubled to RMB1.04 billion ($1.5 billion U.S.) from RMB534 million for the same period last year.

However, the growth of online advertising was only sluggish at the firm, which operates the mainland’s leading instant-messaging service under the brand QQ as well as various online games.


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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.