Tencent’s profits are soaring. But it still has to contend with Trump’s WeChat ban – CNN

The Chinese tech company topped analyst estimates by reporting profit of more than 30 billion yuan ($4.3 billion) for the three months ending in June, up 28% compared to the same period last year. Revenue rose 29% to 114.9 billion yuan ($16.5 billion).
During a call with investors, executives addressed President Donald Trump’s broad executive order issued last week against WeChat, highlighting several times that the action does not appear to target Weixin, the much bigger Chinese version of the app.
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“They are two different products,” said chairman and CEO Ma Huateng, also known as Pony Ma. “Weixin is a chat [app] to serve the users in the mainland of China, while WeChat is a sister product which serves users outside of the mainland of China.”
WeChat and Weixin have more than 1.2 billion monthly active users, according to Tencent (TCEHY). The company does not break down those users by app, but analysts say the vast majority are on Weixin in China.
Industry analysts are concerned that Trump’s executive order could hit the company’s online games operations in the United States. But the