VENTURES AFRICA – Shares in JSE-listed media giant Naspers gained more than 2 percent on a more than one-third growth in Chinese subsidiary Tencent’s quarterly profit, Reuters reported on Wednesday.
Naspers, which owns just over a third of China’s largest online gaming and social networking company, surged 2.1 percent to R595.34 during Wednesday trade, according to the new agency.
The share made gains after Tencent published quarterly results showing a 36.5 percent leap from a year ago on strong sales of online games.
According to Reuters, Tencent will invest in its popular Weixin mobile chatting application to attract more overseas users.
“Weixin, called WeChat in English-speaking markets, already has more than 300 million users,” Tencent said in a statement. “WeChat was also recently launched to the South African market.”
Tencent also planned to fit in more tasks such as games and content apps into Weixin and increase marketing and advertising outside China.
Reuters reported that revenue from internet-value-added services was 8.5 billion yuan. It contributed 70 percent to total revenue.
Revenue from e-commerce deals leapt 48 percent from the previous quarter to 1.7 billion yuan.