Tencent Holding/ADR (OTCMKTS: TCEHY ) stock was up today following the release of its earnings report for the first quarter of 2018.
Tencent Holding/ADR's earnings report for the first quarter of the year includes net income of $3.70 billion. This is a massive 61% jump from its net income from the first quarter of the the previous year.
Operating income reported by Tencent Holding/ADR for the first quarter of 2018 came in at $4.88 million. This is represents a 59% increase over the company's operating income from the same period of the year prior.
Continuing the good news for TCEHY stock is the company's revenue of $11.69 billion for the first quarter of the year. This is up 48% from Tencent Holding/ADR's revenue from the first quarter of 2017. It also beat out Wall Street's revenue estimate of $11.00 billion for the period.
Tencent Holding/ADR saw its VAS business revenue for the first quarter of the year increase by 34%. Online game revenue was up 26% and social network revenue was up by 47% for the quarter. The company also notes that online ad revenue was up 55% while other revenue was up 111% during the period.
Despite all the good news for TCEHY stock, there is one slight blemish on its most recent earnings report. The company's earnings per share for the quarter only came in at 30 cents. This is just shy of the 31 cents per share that analysts' were looking for in the first quarter of the year, but it wasn't enough to keep the stock down today.
TCEHY stock was up 6% as of noon Wednesday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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