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Tencent sees a 26 per cent revenue increase year-on-year in Q1 2020

Tencent sees a 26 per cent revenue increase year-on-year in Q1 2020

Chinese Tech giant Tencent experienced a 26 per cent increase year-on-year in revenue for Q1 2020 to ¥108.1 billion ($15.3 billion).

This information was revealed in Tencent's financial results for the three months ending March 31st.

Total profit for the quarter was ¥28 billion ($4 billion), which represents a rise of 29 per cent year-on-year.

Moreover, there was a 31 per cent increase year-over-year for online game revenues, a majority of which came from mobile games such as Peacekeeper Elite and Honour of Kings.

Furthermore, overseas titles Clash of Clans and PUBG Mobile contributed to the increased revenue. The latter generated the largest consumer spend internationally for developers based in China last quarter. Overall, mobile games brought in ¥34.8 billion ($4.9 billion).

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"As the world tackles COVID-19, our thoughts and hearts go out to all the people who are suffering from the pandemic. During this difficult period, we seek to provide online services that keep people connected, informed, productive and entertained," said Tencent CEO and chairman Ma Huateng.

"So far, our businesses have proved resilient and cash flow-generative, enabling us to increase our investment to fulfil our mission of 'Tech for Good'. We are allocating time and resources, including over ¥2 billion of donations, to contribute to COVID-19 relief initiatives in China and globally."


Staff Writer

A freelance writer based in Berkshire. Besides PG and PCGI she has written as a guides writer, specialising in RPG's and horror.

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