World’s largest gaming firm, Tencent posts big profits

World’s largest gaming firm, Tencent posts big profits

Tencent Holdings reported 21% rise in its quarterly revenue, as the company witnessed growth in its gaming business in China. The company clocked USD12.92 billion in sales for the second quarter of 2019 with an profit of USD 3.59 billion.

In a statement, Tencent said, we accelerated our rate of innovation in games, successfully releasing new games in several different genres, introducing new modes within some of our key titles, and extending our season passes. Meanwhile, we continue to strengthen the Healthy Gameplay System for promoting balanced gameplay for young users.

During the same period, the company also saw its revenue climb up for online games by 8%, as it was able to release 10 games including an in-house AR game, Catchya, and in-house RPGs, Fairy Tail and Raziel, compared with only one game in the first quarter.

Tencent CEO and chairman Ma Huateng said, “During the second quarter, we sustained solid user, revenue, and profit growth, and executed on key initiatives amid the challenging business environment. In recent months, we have accelerated our rate of innovation in games, releasing successful new titles in several different genres, introducing new play modes, and extending our popular season passes.”

Huateng further said, “We have widened merchant adoption for our mobile payment services, contributing to rapid growth in average transaction and total payment volume. We have extended and deepened our exclusive relationship with the
NBA, the most-watched professional sports league in China, reinforcing our position as a leading digital entertainment platform.”

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