China’s Tencent overshoots Q1 estimates with 58% profit jump

(Reuters) — Tencent Holdings Ltd, China’s biggest gaming and social media firm by revenue, overshot estimates to post a 58 percent rise in first quarter profit on Wednesday, aided by strong growth in gaming and digital payments.
The results represent Tencent’s highest quarterly profit growth in 2-1/2 years, reaching 14.3 billion yuan ($2.08 billion) for the quarter. That was above a median forecast for a 13.2 billion yuan profit from eight analysts polled by Reuters.
The firm,