Chinese gaming giant Tencent has released its earnings report for the third quarter. Revenue increased 34 percent to $4.2 billion, while profits jumped 34 percent to $1.2 billion. That is the largest rate of growth for the company in the last five quarters.
The majority of growth was seen in the mobile gaming business where revenue jumped 60 percent. The company is also a leader in the MOBA genre, shooter genre, as well as board games.
"During the third quarter of 2015, we continued to deliver solid operational growth in our core platforms," said Tencent CEO Ma Huateng. "Financially, our smart phone games business accelerated growth following the implementation of a new strategy that extends our product range."
"Our online advertising revenue continued to double year-on-year. For mobile payments, over 200 million users have bound their bank cards to our QQ Wallet and Weixin Pay services, and payment volumes have sharply increased, especially for person-to-person, e-Commerce, and O2O transactions."
"We leveraged our platform to launch '9.9 Charity Day' with over 95 charitable organizations on September 9 to raise donation and increase awareness for them. This one-of-a-kind 'Internet+' campaign has significant impact among our partners and users."
Tencent owns stakes in Riot Games, Epic Games, and Glu, and runs the largest Chinese social network.
Source:
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