Tencent Sees Profits Spike in Third Quarter

(Beijing) — Internet giant Tencent Holdings Ltd. reported strong profit growth in the third quarter on big gains in online payments and cloud services, even as its core online-games business grew more slowly.

The operator of the popular WeChat instant messaging platform reported a profit of 10.8 billion yuan ($1.58 billion) for the three months ended Sept. 30, a 42% jump from a year earlier. Its total revenues grew by 52% to 40.4 billion yuan during the quarter.