Revenue and profit up at Tencent despite stagnant games revenue

Tencent reported year-over-year will increase in each earnings and benefit for the primary quarter of its 2019 monetary yr, although the corporate’s on-line video games trade didn’t proportion in that enlargement.

For the corporate as an entire, Tencent reported RMB 85.five billion (~$12.four billion) in earnings for the primary quarter, up 16 p.c year-over-year. Benefit for that very same duration got here in at RMB 27.nine billion (~$four.1 billion), a 16 p.c build up year-over-year.

Tencent’s on-line video games trade remained secure for the quarter, seeing RMB 28.five billion (~$four.1 billion) for the quarter, a 1 p.c lower year-over-year whilst money receipts for the video games trade larger by way of 10 p.c from the similar duration in 2018. The corporate does notice within the file that each money receipts and reported earnings larger on a quarter-on-quarter foundation.

Simply smartphone video games accounted for RMB 21.2 billion (~$three.1 billion) for the quarter, down 2 p.c from the previous yr because of a lull in sport releases, although day by day lively customers noticed a year-on-year build up.

For PC video games in the meantime, Tencent reported RMB 13.eight billion (~$2 billion), additionally down 2 p.c yr over yr however up 24 p.c from the previous quarter.

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