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Tencent's profit up 2.8% in Q1

May. 17, 2012 (China Knowledge) – Tencent Holdings Ltd<0700>, a leading provider of Internet, mobile and telecom value-added services in China, announced yesterday that its net profit attributable to shareholders for Q1 2012 increased 2.8% YoY to RMB 2.95 billion.

Non-GAAP net profit attributable to shareholders for Q1 2012wasRMB 3.28billion or US$521 million, up 26.9% than a year earlier.

From January to March, the company booked RMB 9.65 billion or US$1.53 billion in total revenue, surged 52.2% YoY, and its basic earnings per share for Q1 were RMB 1.62.

The revenue from internetvalue-added services reached RMB 7.38 billion last quarter, grew 15.3% than in the same period of 2011. While its revenue from mobile and telecom value-added services, e-commerce business and network advertising business reached RMB 913.8 million, RMB 752.8 million and RMB 540.1 million, respectively.

The company said that, the growing e-commerce market in China will bring big opportunities for Tencent, and it will enlarge its B2C e-commerce business. Yesterday, Tencent becomes the controlling shareholder of 51buy, one of China's major e-commerce companies, sources reported.

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