Shares of Tencent open 7 percent higher after first quarter profit beats

HONG KONG (Reuters) – Shares of Tencent Holdings Ltd (0700.HK) opened up 7 percent in Hong Kong on Thursday after it reported better-than-expected first-quarter results.

FILE PHOTO: A sign of Tencent is seen during the third annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China November 16, 2016. REUTERS/Aly Song/File Photo

Tencent posted a 61 percent jump in net profit on a 48 percent rise in revenue for the first three months of the year, beating consensus estimates.

Reporting by Sijia Jiang and Twinnie Siu; Editing by Stephen Coates

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