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Games drive revenue growth for Tencent

Online games account for 40 per cent of total sales in third quarter

The Chinese social network giant Tencent reported an increase in revenues and profits in its third fiscal quarter results.

Tencent, which operates a number of social networks and online games, posted revenues of RMB 7.5 billion ($1.18 billion/£741 million) for the quarter ending September 30 - a year-on-year increase of 43.4 per cent.

Net profit for the quarter was RMB 2.5 billion ($393 million/£247 million), a year-on-year increase of 12.8 per cent.

Online game revenues from Tencent's internal products increased to RMB 4.1 billion, largely due to the growth in popular products like Cross Fire, QQ Dancer, Dungeon and Fighter, QQ Game, and QQ Speed.

The company also reported significant growth in users for its major social networks: Ozone's registered userbase increased by 11.6 per cent year-on-year to 536.9 million accounts, while Pengyou reached 149.4 million accounts, a huge 175.6 per cent rise over the same period last year.

"We are expanding our user base and delivering more value to our users through our social infrastructure," said Tencent CEO Mr. Ma Huateng in a statement.

"In particular, we are extending our social leadership from PC to mobile platforms, via popular applications such as Wireless QQ and Weixin."

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Matthew Handrahan

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Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.