Tencent posts 21% revenue growth in Q2 2019

Beijing, Aug 15 (IANS) China's Internet giant Tencent has reported strong second-quarter earnings, with revenue reaching 88.8 billion Yuan (about $12.7 billion), up 21 per cent year-on-year (YoY).

Profit attributable to equity holders for the period rose 35 per cent year-on-year to hit 24.1 billion Yuan.

Total revenue and profit attributable to equity holders for the first half (H1) was 174.3 billion Yuan and 51.3 billion Yuan, up 18 per cent and 25 per cent, respectively year-on-year, Yonhap news agency reported on Wednesday.

"During the second quarter, Tencent sustained solid user, revenue and profit growth and executed on key initiatives amid the challenging business environment," Tencent's Chairman and CEO Ma Huateng said, noting that the company will continue to invest in enhancing its platforms, services and technologies.

Revenues from online games rose by eight per cent to 27.3 billion Yuan, with smartphone games revenues amounting to 22.2 billion Yuan, up 26 per cent year-on-year.

Revenues from FinTech and business services saw a robust growth of 37 per cent year-on-year to 22.9 billion Yuan in Q2, while online advertising revenues increased to 16.4 billion Yuan during the period, witnessing a 16 per cent rise on a year-on-year basis.

--IANS

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Source : ians

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