Tencent Holdings made a net profit of 27.2 billion yuan in the first quarter, with QQ having monthly active users of more than 700 million yuan.

www.techweb.com.cn/it/2019-05-15/2735...

Tencent Holdings announced its first-quarter earnings report today, with a net profit of 2.72 billion yuan in the first quarter, an increase of 17% on a year-on-year basis, and a market forecast of RMB 194 billion. The first-quarter revenue was 854.70 billion yuan, with the market estimated to be RMB 887.1 billion. The operating profit in the first quarter was RMB 367.4 billion, and the network game revenue in the first quarter was RMB 28.5 billion.

Tencent Holdings's gaming revenue rose 10 percent in the first quarter from a year earlier, while reported revenue fell 1 percent from a year earlier to 28.5 billion yuan, including the difference between revenue deferred policy and reported revenue from game props sales. Thanks to the peak season and the upgrading of the content of major personal computers and smartphone games, both running revenue and reporting revenue recorded growth from a month earlier. Tencent Holdings' smartphone game revenue fell 2 per cent in the first quarter from a year earlier to 21.2 billion yuan, as new game releases fell, but revenue rose 11 percent from a month earlier because of seasonal activities. PC client game revenue was 13.8 billion yuan, down 2 percent from a year earlier, up 24 percent from a month earlier. In the first quarter, core paying users of major PC games remained healthy.

In the first quarter, Tencent Holdings' financial technology and corporate services revenue increased 44% year-on-year to RMB 21.8 billion, mainly driven by commercial payments, other financial technology services (such as microfinance) and cloud business.

The revenue of Tencent's online advertising business in the first quarter increased by 25% year-on-year to RMB 13.377 billion. Social and other advertising revenues increased by 34% to RMB 9.988 billion, mainly due to the increase in advertising revenue from WeChat friends circle, small programs and QQ. Media advertising revenue increased by 5% to RMB 3.479 billion, mainly reflecting the increased contribution of advertising in Tencent's news service.

Tencent Holdings first quarter net profit 27.2 billion yuan QQ month live more than 700 million

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