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Tencent posts USD$2.69bn Q2 profit

Tencent reports a record quarterly earning of USD$2.69bn (RMB 18.2 bn) off the back of increased investment in their gaming business.

In Tencent’s official press release, CEO Ma Huateng noted:

While our games business continued to grow, we have stepped up our effort to ensure users play games in a healthy manner.

During Q2, Tencent’s online games revenues also increased by 39% to USD$3.58bn (RMB 23.8 bn).

According to Tencent, the increase has been primarily driven by “smart phone games, including existing titles such as Honour of Kings, and new titles such as the China version of Contra Return, Dragon Nest Mobile and Legacy TLBB Mobile.” Tencent also reports a 54% YoY growth in smartphone games, exceeding growth in their PC games revenue for the first time.

Tencent also cites key PC titles like League of Legends and Dungeon and Fighter (DnF) as key growth areas, representing 29% YoY growth.

Social networks revenues increased by 51% to RMB12,943 million, mainly reflecting growth in revenues from digital content services such as live broadcast, video and music, as well as from item sales in smart phone games

Press release: https://www.tencent.com/en-us/articles/8003451502937229.pdf

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Fran

Lifelong gamer with a fond love of RPGs, MMOs, puzzle games and mobile games.

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