Revenues climbed by 28% to RMB19.8 billion ($3.22 billion). Profit for the period was RMB5.68 billion ($923 million), an increase of 46% year on year.
“We achieved another quarter of solid growth in our platforms, revenue and earnings. Our online advertising business expanded particularly swiftly,” said chairman Pony Ma Huateng. But the results also showed weakness in its mobile games business and lower earnings in e-commerce, though that also reflected a transfer of business to its partner JD.com.
The number of WeChat users grew by 7% compared with the previous quarter to 468 million monthly active users.
“Given our traffic leadership and logged-in relationship with users, together with the proven scale of performance-based advertising services in China and overseas, we see ample scope for growth in our performance-based advertising business,” said Ma.
That view was echoed by Ernie Diaz, analyst at Web Presence, who said he was “not worried” by the firm’s growth track.