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Tencent Profit Rises Nearly 70% on Mobile-Games Growth

HONG KONG—Chinese internet giant Tencent Holdings Ltd. said third-quarter net profit rose nearly 70% from a year earlier, driven by advertising revenue gains and strong growth at its mobile-games and digital-content divisions.

Tencent’s shares have been on a tear this year, doubling its market capitalization to almost $475 billion. It has raised its international profile with a number of recent acquisitions as well, including buying Epic Games Inc. and a majority stake in electric-vehicle maker Tesla Inc. And last week, Tencent...


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