Tencent profit soars by 61pc to 23.2b yuanBusiness | 16 May 2018 5:58 pm
Tencent Holdings (0700) reported today net profit in the first quarter increased by 61 percent to 23.29 billion yuan, from the year before period.
Revenues increased by 48 percent to 73.52 billion yuan for the quarter ended March 31, 2018. Smart phone games, payment related services, digital content subscriptions and sales, and social advertising were key contributors to the overall revenue growth, the company.
Smart phone games generated 21.7 billion yuan of revenues (including smart phone games revenues attributable to the social networks), up by 68 percent
on-year. Smart phone games revenue was driven by in-house mobile titles such as Honour of Kings and QQ Speed Mobile.
PC client games revenue was flat at 14.1 billion yuan.
Selling and marketing expenses increased by 76 percent to 5.57 billion yuan for the first quarter.