HONG KONG (Reuters) - Tencent Holdings Ltd (0700.HK), China's biggest gaming and social media firm by revenue, said on Wednesday it will take some time for its online video business to break even.

Tencent President Martin Lau was speaking after the company reported its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising.

ADVERTISEMENT

Lau also said while advertising and subscription revenue grew, the cost of content grew even faster.

(Reporting By Sijia Jiang; Writing by Anne Marie Roantree; Editing by Susan Thomas)