BEIJING - Chinese tech giant Tencent said Wednesday that its net profit surged 74 percent last year thanks to "solid growth" across its core businesses.

The company's profits attributable to shareholders stood at 71.51 billion yuan (about $10.94 billion) in 2017, according to a report on its website.

"We continued to achieve solid growth across core business segments," the company said, mentioning steady growth in online games, digital content, advertising, payment and cloud services.