Tencent’s Profit Drops Despite Strength in Games, Advertising, Fintech

Tencent Holdings reported a drop in third-quarter net profit due partly to the absence of special gains from asset sales booked a year earlier, despite operational strength in its games, advertising and fintech businesses.

The Chinese videogame and social-media company said Wednesday that net profit dropped 9.4% from a year earlier to 36.18 billion Chinese yuan ($4.99 billion) for the three months ended Sept. 30. That beat the estimate of CNY32.47 billion in a poll of analysts by Visible Alpha.