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Tencent Posts 20% Annual Revenue Gain, Tops CNY100 Billion for 1st Time in Fourth Quarter
XU WEI
DATE : MAR 18 2020/SOURCE : YICAI
Tencent Posts 20% Annual Revenue Gain, Tops CNY100 Billion for 1st Time in Fourth Quarter
(Yicai Global) March 18 -- Chinese internet giant Tencent Holdings posted CNY377.3 billion (USD53.7 billion) in operating revenue last year, up 21 percent from 2018, according to the firm's financial report released today.
Revenue in the fourth quarter broke through the CNY100 billion mark for the first time, mainly due to strong performance of major games in mainland China, rising contribution from overseas games, as well as commercial payment and other fintech services.
The firm's revenue from value-added services jumped 13 percent from a year earlier to CNY200 billion last year, making up 53 percent of total revenue. Its revenue from online advertising climbed 18 percent to CNY68.4 billion, taking up 18 percent of the total, and revenue from fintech and enterprise services rose 39 percent to CNY101.4 billion, accounting for 27 percent of the total.
Tencent reported CNY94.4 billion in net profit last year, up 22 percent over 2018. It posted CNY105.8 billion in operating revenue in the fourth quarter, an increase of 25 percent from the same period in the previous year, and CNY25.5 billion in net profit, a 29 percent year-on-year gain.
WeChat and its overseas version continued to maintain a high level of user activity, with the number of active users and online time both increasing. The number of average daily messages rose 15 percent in the fourth quarter from a year earlier.
Parent-teacher QQ groups have provided live classes, online course tutoring and homework management tools to 120 million users to help with online and offline education amid the novel coronavirus pneumonia outbreak, the company said.
In digital content, Tencent's paid value-added service accounts jumped 12 percent from 2018 to 180 million last year.
The company's revenue from cloud services exceeded CNY17 billion last year, with more than 1 million paying customers.
https://yicaiglobal.com/news/tencen...cny100-billion-for-1st-time-in-fourth-quarter
XU WEI
DATE : MAR 18 2020/SOURCE : YICAI
Tencent Posts 20% Annual Revenue Gain, Tops CNY100 Billion for 1st Time in Fourth Quarter
(Yicai Global) March 18 -- Chinese internet giant Tencent Holdings posted CNY377.3 billion (USD53.7 billion) in operating revenue last year, up 21 percent from 2018, according to the firm's financial report released today.
Revenue in the fourth quarter broke through the CNY100 billion mark for the first time, mainly due to strong performance of major games in mainland China, rising contribution from overseas games, as well as commercial payment and other fintech services.
The firm's revenue from value-added services jumped 13 percent from a year earlier to CNY200 billion last year, making up 53 percent of total revenue. Its revenue from online advertising climbed 18 percent to CNY68.4 billion, taking up 18 percent of the total, and revenue from fintech and enterprise services rose 39 percent to CNY101.4 billion, accounting for 27 percent of the total.
Tencent reported CNY94.4 billion in net profit last year, up 22 percent over 2018. It posted CNY105.8 billion in operating revenue in the fourth quarter, an increase of 25 percent from the same period in the previous year, and CNY25.5 billion in net profit, a 29 percent year-on-year gain.
WeChat and its overseas version continued to maintain a high level of user activity, with the number of active users and online time both increasing. The number of average daily messages rose 15 percent in the fourth quarter from a year earlier.
Parent-teacher QQ groups have provided live classes, online course tutoring and homework management tools to 120 million users to help with online and offline education amid the novel coronavirus pneumonia outbreak, the company said.
In digital content, Tencent's paid value-added service accounts jumped 12 percent from 2018 to 180 million last year.
The company's revenue from cloud services exceeded CNY17 billion last year, with more than 1 million paying customers.
https://yicaiglobal.com/news/tencen...cny100-billion-for-1st-time-in-fourth-quarter
