Tencent mobile game revenue increased by more than 60%
Although the world economy is heavily influenced by the global epidemic COVID-19, the gaming industry is still thriving. The report said that Tencent mobile game revenue in the third quarter had a sharp increase with more than 60% over the same period in 2019.
On November 12, Tencent Holdings released its Q3 2020 Financial Statements with surprising results. Tencent’s total revenue in the third quarter was 125.447 billion yuan, up 29.0 percent from 97.236 billion yuan in the same period last year, the financial report showed. Net profit reached 38.542 billion yuan, up 89.1 percent from 20,382 billion yuan in the same period a year earlier.
On the day the financial statements were released, Tencent Holdings shares rose 3.45% in early trading and eventually closed at HK $ 577.0 per share, up 4.72%.
Tencent’s value-added services revenue was 69,802 billion yuan in the third quarter of this year, according to published data. The revenue from financial technology and enterprise services was 33,255 billion yuan. Online advertising revenue was 21,351 billion yuan and other business income was 1,039 billion yuan.
Specifically, in the third quarter of 2020, Tencent’s online gaming revenue was 41.422 billion yuan, up 45% year-on-year. In which, revenue from mobile games and PC games were 39,173 billion Yuan and 11,631 billion Yuan, respectively. The financial report mentioned that the growth of the online game segment is mainly driven by the growth of sales of mobile games at home and abroad, especially PUBG Mobile and King of Glory.
In general, the world game industry has increased strongly because many people have to isolate at home and keep away from society because of epidemics. They tend to play games to pass the time.