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Even before Supercell deal closes, Tencent sees huge surge in mobile game revenues

Total revenues up to $5.4 billion in FY16 Q2
Even before Supercell deal closes, Tencent sees huge surge in mobile game revenues

Tencent (HKG:0700) has released its financials for its FY16 Q2 period, ending 30 June 2016.

It shows the total revenues were $5.4 billion, a staggering 52% increase year-on-year, with profits of $1.6 billion, 47% up year-on-year.

Tencent attributed most of this increase in revenue to publishing PvP and RPG titles on smartphones, such as Hero MOBA, Dragon Ball Z Dokkan Battle, and JX Online, the latter of which launched during the period and quickly found its way into the top grossing charts.

A Super investment

"During the second quarter, we sustained solid growth in our platforms and businesses, including our social and media platforms, games, digital content, advertising, and payment services," said Ma Huateng, Chairman and CEO of Tencent.

"We invested in Supercell, the world’s leading mobile game studio, expanding our upstream presence in the global game industry and bringing us closer to hundreds of millions of game players globally."

Tencent also outlined its strategy with regards to Supercell, reaffirming that the studio will continue to operate independently, but will use Tencent's expertise and resources to expand into China's market.

The deal itself isn't expected to be completed untl Q3.