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Tencent financials: profit up 37%, revenue rises 40%

Thursday, 16th May 2013 10:23 GMT By Dave Cook

Monster Hunter Online publisher and Riot Games owner Tencent has posted its Q1 financials, pointing to a prosperous year for the Chinese online gaming company.

GI.biz reports that he company posted a 37% in quarterly profits of RMB 4,071.1 million, and a revenue increase of 40% at RMB 13,547.6 million. The company has put this success down to user growth, and its hand in bringing several new games to market.

Being an online company, internet advertising accounted for RMB 849.5 million of Tencent’s overall total, which was an increase of 57.3%. Digital transactions – which includes micro-payments and the like – were up 154.2% over 2012, earning the company RMB 1,913.3 million.

As part of the financial report, Tencent CEO Ma Huateng said, “During the first quarter of 2013, we saw broad-based growth in user engagement and revenue across our key activities. This growth has enabled us to fund investments in longer-term opportunities such as WeChat international user acquisition, online video content aggregation, and eCommerce footprint expansion, while maintaining a healthy expansion rate in earnings and cash flow.”

“We saw both strategic and financial benefits from our portfolio of investee companies, including a further special dividend from Mail.ru. We will continue to invest proactively in innovation and technology, and to cultivate our open platform, in order to capture the mobile opportunities ahead and strengthen our position as the leading Internet platform company in China.”

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