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Mobile games are driving revenues and profits at Tencent

Mobile games are driving revenues and profits at Tencent

November 15, 2017 | By Chris Kerr

Chinese internet giant Tencent has released its financials for the three months ended September 30, and the company saw revenues and profits rise thanks to the performance of its smartphone and PC games.

Total revenues rose by 61 percent year-over-year to 65.2 billion Chinese yuan ($9.83 billion), while profits increased by 69 percent to 18.05 yuan ($2.72 billion) during the same period. 

Tencent owns League of Legends creator Riot Games and Clash of Clans maker Supercell. It also recently published the hit mobile title Honor of Kings, which has attracted over 200 million players in China alone. 

Given the popularity of those titles, you might not be surprised to hear that Tencent's smartphone games revenue grew by 84 percent year-over-year to 18.2 billion yuan ($2.7 billion). 

Honor of Kings was the main growth driver, but other titles like Contra Returns, Legend of XuanYuan Mobile, Journey to the Fairyland Mobile, and the company's self-developed strategy game Kings of Chaos also contributed.

On the PC front, the Shenzhen-based outfit saw its client games lineup pull in around 14.6 billion yuan ($2.2 billion), a year-over-year increase of 27 percent. Overall, that means online game revenue rose by 48 percent to 26.8 billion yuan ($4.05 billion).

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