Perspectives
Tencent Holdings Ltd., China’s biggest Internet company by sales, posted a 14 percent gain in third-quarter profit, missing analysts’ estimates, after increasing spending to develop new services.
Net income climbed to 2.45 billion yuan ($385 million) from 2.15 billion yuan a year earlier, Tencent said yesterday. Analysts expected 2.59 billion yuan, based on the average of eight estimates compiled by Bloomberg. Sales rose 43 percent to 7.5 billion yuan.