Tencent profits exceed $1bn in Q1

Tencent raked in nearly $3 billion in revenue during the first three months of 2014.

The China firm made an operating profit of $1.2 billion, an increase of 64 per cent on the previous quarter, and 54 per cent year-on-year.

Its online game revenues increased 23 per cent from the last quarter to $1.6bn. Tencent said the rise was down to its smart phone games integrated with mobile QQ and Weixin, as well as increased revenues from PC titles such as Blade & Soul.

Develop has more details.