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News - Tencent’s online game revenue surpasses $4 billion in Q3

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Tencent’s online game revenue surpasses $4 billion in Q3

<div style="margin: 5px 5% 10px 5%;"><img src="https://www.sickgaming.net/blog/wp-content/uploads/2019/11/tencents-online-game-revenue-surpasses-4-billion-in-q3.jpg" width="200" height="200" title="" alt="" /></div><div><p>Tencent’s online game revenue is up 11 percent year-over-year for the quarter ending [September 30], coming in at RMB 28.6 billion or just over $4&nbsp;billion for the three-month period.</p>
<p>The Chinese company shared performance for its&nbsp;video game dealings alongside other departments in its latest financial report, noting that smartphone games, as well as advertising and commercial payment services, helped drive a 21 percent year-over-year increase in revenue for the company as a whole.</p>
<p>Zeroing in on Tencent’s game business, mobile games like <em>Honour of Kings</em>, <em>PUBG Mobile</em>, <em>Call of Duty Mobile</em>, and the China-only <em>PUBG</em>-like <em>Peacekeeper Elite </em>were called out as games with a strong showing this quarter.</p>
<p>Riot Games’ <em>Teamfight Tactics</em> was also called out for “establishing global leadership in the emerging auto chess genre” alongside those notable mobile games, though as a whole PC game revenue decreased on both a yearly and quarterly basis despite gains made by <em>League of Legends </em>in China.</p>
<p>Smartphone games alone saw a 25 percent increase in revenue, coming in at RMB 24.3 billion (~$3.5 billion) for the quarter, driven by “robust performance of key domestic titles and increasing contributions from overseas.” As mentioned before, revenue from PC client games decreased 7 percent year-on-year (and 2 percent from Q2) to RMB 11.5 billion (~$1.6 billion). However, Tencent attributes the bulk of this drop to high revenue last year driven by an in-game anniversary event.</p>
<p>Tencent as a whole reported revenue of RMB 97.2 billion (~$13.8 billion), up 21 percent year-over-year, and non-IFRS operating profit of RMB 28.5&nbsp;billion (~$4 billion), up 27 percent year-over-year.</p>
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https://www.sickgaming.net/blog/2019/11/...ion-in-q3/
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