How China's social media giant compares to Facebook

Chinese social media and gaming company Tencent published its results for the first quarter on Wednesday, exceeding analysts' expectations and sending its share price soaring.
Since social media services such as Facebook, Twitter, Instagram and Snapchat While these platforms are not accessible in China, there is a whole ecosystem of social networking and messaging platforms that are very popular in and around China but hardly known in other parts of the world.
Platforms such as QQ, Qzone and WeChat have hundreds of millions of users and are owned by the same company as Facebook, Instagram and WhatsApp. Its parent company Tencent became China's largest technology company in terms of market capitalisation for the first time in 2016 and is currently in a neck-and-neck race with e-commerce giant Alibaba for this title.
As our chart shows, Tencent does not need to shy away from comparison with the world's largest social networking company. Although WeChat has just passed the one billion user mark and is therefore more than one billion users behind the world's largest social network, the company's financial results are almost on a par with those of Facebook. Tencent reported revenue of USD 11.7 billion and net profit of USD 3.8 billion for the first quarter of 2018, compared to USD 12.0 billion and USD 5.0 billion respectively for Facebook. From an investor's perspective, Tencent has outperformed its American counterpart over the last 12 months: the company's share price has risen by 60 per cent since May 2017, while Facebook's has "only" risen by 23 per cent.
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