Games, WeChat boost Tencent profit to $949 million

Aug 13, 2014

China's Tencent Holdings Ltd., which operates online games and the popular WeChat messaging service, said Wednesday its quarterly profit rose 59 percent due to strong growth in its mobile business.

The company based in the southern city of Shenzhen earned 5.8 billion yuan ($949 million) in the three months ended June 30, or 0.63 yuan (10.2 U.S. cents) per share. Revenue rose 37 percent to 19.7 billion yuan ($3.2 billion).

Tencent and other Chinese Internet services are spending heavily to expand as the country's Web surfers shift to going online wirelessly through smartphones and tablet computers.

Tencent's revenue rose 7 percent over the previous quarter, driven mostly by higher revenue for smartphone games integrated with WeChat. Revenue from social networks rose 15 percent over the previous quarter, also driven by mobile services.

"We deepened user engagement on mobile across our social, games and media platforms," said chairman Ma Huateng in a statement. "Our online advertising business grew particularly strongly."

Tencent also has expanded into online video, taxi hailing services and online finance. It bought a $215 million stake in March in JD.com, the country's second-largest online sales platform.

Explore further: Baidu profit up 34 percent as mobile service grows

More information: Tencent Holdings Ltd.: www.tencent.com/en-us

not rated yet
add to favorites email to friend print save as pdf

Related Stories

China's Tencent quarterly profit rises 32%

Nov 14, 2012

Chinese Internet giant Tencent on Wednesday posted a third quarter net profit increase of 32 percent, benefiting from the popularity of its instant messaging services and online games.

WeChat: China's popular mobile messaging app

Feb 20, 2014

As Facebook snaps up smartphone messaging service WhatsApp for a monumental $19 billion in cash and shares, focus has turned to its rivals. Here are some background facts about China's popular mobile messaging applicatio ...

China's Tencent posts Q2 profit surge

Aug 15, 2012

Chinese Internet giant Tencent posted a second-quarter net profit increase of 32 percent on Wednesday, despite a decelerating domestic economy.

Chinese portal Sohu reports $45 million loss

Jul 28, 2014

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

Sohu profit tumbles to $2 million, revenue up

Feb 10, 2014

Chinese portal Sohu.com Inc. said Monday its latest quarterly profit tumbled to $2 million due to higher expenses but revenue rose 29 percent, reflecting intense competition in China's Internet industry.

Recommended for you

Redbox raising DVD rental rates by 25 percent

2 hours ago

Redbox is raising its DVD rental prices by 25 percent beginning next week in an effort to wring more revenue from the shrinking audience that still watches movies on the discs instead of Internet video services such as Netflix.

Does bad behavior really hurt business?

13 hours ago

Silicon Valley seems to have more than its share of companies behaving badly. Among up-and-comers in the tech world, privacy abuses and executive gaffes have become viral sensations. But is all that bad behavior ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.