Tencent online gaming revenue exceeds $4bn in latest quarterly financials
Company-wide profit up to $2.7 billion, year-on-year increase of 67%
Tencent has enjoyed yet another profitable quarter with PC, mobile, and online games all contributing to the considerable growth of the Chinese internet giant.
Figures from the latest financial report demonstrate growth across Tencent's many divisions.
Benefitting from key titles such as League of Legends and Dungeon Fighter Online, PC games generated $2.2 billion in revenue, representing a 27% year-on-year growth.
"We focused on retaining core users and enhancing engagement through initiatives such as the LoL World Championship 2017 event held in China and a DnF-themed cartoon series," said Tencent.
Online games revenues grew by 48% to $4.05 billion. This increase primarily came from the mobile games which were another strong performance area, with revenue growing by 84% year-on-year, to $2.7 billion. Contributing to the growth were newly-launched titles such as Honour of Kings, and the Chinese version of Contra Return, plus the self-developed Kings of Chaos.
Company-wide revenue for the period equated to year-on-year revenue growth of 61%. This was driven by mobile and PC games, payment related services, digital content subscriptions and sales, and online advertising. The profit across all sectors of Tencent reached $2.7 billion, an increase of 67% year-on-year.
"During the third quarter of 2017, we recorded strong business and revenue growth across multiple business lines including games, digital content, online advertising and payment related services," said chairman and CEO of Tencent, Ma Huateng, citing the company's dominant position in video content and the success of China Literature.
He added: "We believe our multi-faceted digital content businesses are synergistic with each other, and allow us to deliver unique content to our users."