0412 GMT - Tencent Holdings Ltd. is one of the most mentioned companies in the news over the past six hours, according to Factiva data, after it beat expectations in fourth-quarter earnings results reported Wednesday. Tencent posted net profit of 106.27 billion yuan ($15.44 billion), with a one-off gain of CNY106.6 billion from the sale of Meituan stock helping it to a 12% improvement from a year earlier and to exceed the CNY29 billion analyst estimate compiled by Factset. Revenue also beat expectations, rising 0.5% from a year earlier and exceeding the Factset estimate by 0.8%. The surprise profit beat helped Tencent's Hong Kong shares to rise 5.6% in morning trade. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)


(END) Dow Jones Newswires

03-23-23 0027ET