HONG KONG --Tencent Holdings said on Wednesday its net profit rose 61 percent to
2.87 billionyuan ($442.2 million) for the three months ended March 31, 2011.Basic and
diluted earnings per share were 1.575 yuan and1.54 yuan.
Revenues amounted to 6.34 billion yuan, an increase of 50percent. Gross profit grew 43
percent to 4.14 billion yuanand operating profit was 3.39 billion yuan, up by 57.6percent.
Ma Huateng, Chairman of the company, said in the resultannouncement that for the second
quarter of 2011, he expects weaker seasonality for Internetvalue-added service mainly due
to school examinations and fewer school holidays.
This negative seasonality may be more severe than previous years as a higher percentage
of revenues is based on item sale and such item-based revenues are more prone to seasonal
fluctuation than subscription-based revenues, he said. ($1 equals 6.49 yuan)