Jake Tucker . Business . Wednesday 15th November 2017 . 11:54
Tencent has reported revenues of $9.8bn in it’s Q3 2017 financials, an increase of 61 per cent year-on-year.
Tencent is the world’s biggest games company, and made $2.7bn in profit over the last quarter, a rise of 69 per cent year-on-year. Nice.
The two figures combined are the company’s strongest growth numbers since 2010, driven by mobile hit Honour of Kings and Riot Game’s League of Legends, scoring growth for PC and mobile sectors.
Tencent is a juggernaut. While Tencent is the biggest games company in the world with revenue comparable to EA and Activision Blizzard’s turnover combined, it also has a chat program, payment platform and also owns China’s most watched streaming video service. While most of the company’s growth has come from gaming, Tencent has a nearly infinite array of pie-stained fingers.
“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. In particular, our video platform gained audience and revenue market share, we believe it has become China’s top online video platform in terms of mobile daily active users and subscriptions,” said chairman and CEO Ma Huateng. .
“We believe this success reflects our increasing investment in self-commissioned video content, our improved selection of licensed video content, and our scheduling and audience management initiatives. The listing of our online literature platform, China Literature, in November also reflects the value of our years of investment in the business. We believe our multi-faceted digital content businesses are synergistic with each other, and allow us to deliver unique content to our users.”