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).
“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 Source…
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