Mobile gaming and advertising revenues were the key drivers behind Tencent‘s stellar second-quarter results, with the Chinese internet giant posting 59% growth in revenues and 70% growth in profits.
The results, which again outstripped analyst expectations, build on a strong first quarter, with the gaming and entertainment giant posting revenue of RMB 56.6bn ($8.4bn) and profits of RMB 18.25bn ($2.7 bn).
Tencent’s hugely popular Honour of Kings smartphone game helped boost online games revenues by 39% to RMB 23.86m. While overall revenues for Value Added Services (VAS) grew 43% to RMB 36.8bn year-on-year.
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Source: The Drum
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