Tencent hits record market value as profits soar


Tencent showcasing its image recognition technology at an expo in Wuzhen, Zhejiang province, last year. Green Packet’s KipleID is powered by Tencent Cloud’s facial recognition and machine learning technology.

KUALA LUMPUR: Internet giant Tencent shares have risen since Wednesday when it reported profits for its first quarter for FY2020 that beat analysts expectations.

Tencent’s market capitalisation now stands at around HK$4.2 trillion (US$540bil), close to it’s all-time high in 2018.

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