Shares in the Chinese publisher hit an over-six-month high last week, reports CNBC, and are 10 per cent higher this year so far than in 2018. That means shares have gained nearly $40 billion in value.
Part of this renewed growth could be thanks to China’s decision to open approvals back up - even if they have had to reinstate the freeze on more new titles to catch up on the backlog.
Back on track
It’s a far cry from the rough ride Tencent experienced last year, losing $20 billion in value thanks to China’s crackdown on new game approvals.
But the Chinese government isn’t the sole decider of Tencent’s success. Its games continue to sell well and it's been reported that its biggest title, mobile MOBA Honor of Kings, generated $1 billion in February 2019 alone following a significant new update dubbed 'version two'.
China’s block did provide publishers with an extra motivation for expanding outside the region. When combined with fellow publisher NetEase, the two publishers saw out-of-China mobile game revenue soar 500 per cent in 2018.