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Tencent becomes first company in China to break $500 billion market cap

Bigger than Alibaba, Baidu, EA, Activision Blizzard, and Ubisoft combined
Tencent becomes first company in China to break $500 billion market cap

Tencent has become the first company in China to surpass a market cap of $500 billion following another strong financial release.

As reported by Seeking Alpha, Tencent's shares rose by 4% on November 20th 2017, pushing its market cap to over $500 billion. In comparison, Alibaba's market cap is $60.8 billion, while Baidu sits at $10.6 billion.

The figure also beats out several other major game companies, and is higher than EA, Activision Blizzard, and Ubisoft's market caps combined. It still has a long way to go to beat Apple, however, which has a market cap of $872 billion.

Always growing

Tencent's overall revenues grew 61% year-on-year in its Q3 FY17 financials to $9.8 billion. Mobile revenues alone came to $2.75 billion for the quarter.

The company's biggest game remains Honor of Kings, which is currently gearing up for release in the US as Arena of Valor. A pre-registration campaign is already underway.

Tencent is bigger than just games, and most recently acquired a 12% stake in Snapchat parent company Snap. It had previously invested in the firm during venture capital funding rounds.