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Tencent's revenue up 28 per cent year-on-year as it generates $31.5 billion

"We achieved generally robust operating and financial results in the second quarter"
Tencent's revenue up 28 per cent year-on-year as it generates $31.5 billion
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Tencent's revenue was up 28 per cent year-over-year in Q2 2020 as it generated ¥222.9 billion ($31.5 billion).

Furthermore, the Chinese tech giant experienced a 31 per cent rise year-on-year in operating profits, bringing in ¥73.2 billion ($10.3 billion). Online games naturally contributed to Tencent's profits; in China, user time spent on mobile games increased year-on-year. However, there was a decrease quarter-on-quarter, but that can be attributed to people returning to work after the COVID-19 lockdown.

Furthermore, Tencent increased user engagement across top titles such as Honor of Kings and Peacekeeper Elite (PUBG Mobile) with the release of new content. Supercell's Brawl Stars has also performed well for the company - it accumulated $17.5 million in its first week. Moreover, its monthly active users around the world grew year-on-year and quarter-over-quarter. The tech giant cited new releases as the reason, such as Legends of Runeterra.

Adapt and survive

"Since the beginning of this year, the COVID-19 pandemic has swept the world, disrupting our daily work and life routines. During this challenging time, we utilised our platforms and technologies to help users adapt to the new normal via online tools, to support enterprises in conducting digital upgrades, and to broadly contribute to economic recovery," said Tencent chairman and CEO Mr. Ma Huateng

"We achieved generally robust operating and financial results in the second quarter, testifying to the diligence of our teams and resilience of our business model. We are committed to investing in talents, technology and platforms in a disciplined manner to embrace the emerging structural opportunities and challenges ahead."