Revenue from fintech and business services grew 14 per cent to 48.7 billion yuan. Tencent's revenue from online ads rose 17 per cent to 21 billion yuan. 'Out of our top 15 games, 12 were up year on year,' he said, 'Whether that is due to pent-up demand or underlying demand, time will tell.' Two of Tencent's most popular games - Honour of Kings and CrossFire - earned record revenue thanks to new added features and promotions, while newly launched games also recorded solid sales and user growth.ĭomestic gaming revenue gained 6 per cent to 35.1 billion yuan while international gaming revenue rose 25 per cent to 13.2 billion yuan.Ĭhief strategy officer James Mitchell said on a call with analysts the company saw a 'broad base recovery' for its games business. The firm unveiled a long pipeline of games on Monday, including seven titles ready to go online this summer. Tencent posted its first annual revenue decline last year, impacted by China's now-abandoned zero-COVID policy and a months-long freeze on gaming licences by regulators.īut it is likely heading for a rebound this year after the government resumed licence approvals last year and gamers continue to splurge on its existing games.

Net profit rose 11 per cent to 25.83 billion yuan, missing the 29.61 billion expected by analysts. Revenue reached 149.98 billion yuan ($21.70 billion) for the three months ended March 31, topping the 146.09 billion expected by 17 analysts polled by Refinitiv. The world's largest video game company and operator of the WeChat messaging platform on Wednesday posted an 11 per cent rise in revenue, beating analyst expectations. HONG KONG :China's Tencent Holdings Ltd marked a return to revenue growth in the first quarter as it recovered from COVID-19-related disruptions and China's crackdown on video games a year earlier.

The rise of gaming revenue download