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Honor of Kings helps double Tencent profits to $3.4 billion last quarter

56 per cent of third-quarter growth came from the success of mobile titles such as Honor of Kings

Honor of Kings helps double Tencent profits to $3.4 billion last quarter

Chinese publishing giant Tencent saw its profits more than double to $3.41 billion in the three months ending December 31st 2017 thanks in part to the success of its games portfolio.

As reported by Bloomberg, the Shenzhen-based company managed to garner revenues of $10.4 billion in the quarter, which was a 51 per cent rise from the year before.

56 per cent of the growth was attributed to the growing popularity of its mobile titles such as Honor of Kings, which generated $1.9 billion in 2017 alone. Payment-related services, digital content subscriptions and sales, along with social and video advertising, also contributed to the growth.

A significant portion of Tencent's revenue also comes from a presence abroad, with big shares through investments in companies such as Riot Games and Supercell.

More to come

The year is off to a good start for Tencent in regards to mobile versions of Playerunknown’s Battlegrounds. Since releasing in China on February 9th, the duo of PUBG: Exhilarating Battlefield and PUBG: Army Attack has managed to attract more than 80 million players.

Tencent's western version PUBG Mobile has also been enjoying early success since launching earlier this week, as it hit the top spot in the iOS free games chart in 17 different countries within 24 hours of launch.

The Chinese games and tech giant Tencent also came on board as a long-term investor in Ubisoft within the past week.

 


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Staff Writer

Iain is a freelance writer based in Scotland with a penchant for indies and all things Nintendo. Alongside PocketGamer.Biz, he has also appeared in Kotaku, Rock Paper Shotgun, PCGamesN and VG24/7.