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March 18, 2010

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Instant messages have profit soaring

TENCENT Holdings Ltd, the operator of China's most popular instant messaging service, said profit for the fourth quarter nearly doubled as income from value-added services boomed.

Revenue totaled 3.7 billion yuan (US$542 million), a 75.9 percent increase from the same period last year.

Operating profit surged 90.5 percent year on year to 1.78 billion yuan.

Internet value-added services contributed 2.85 billion yuan, a 92.6 percent jump from a year ago.

"The Internet industry is going to benefit from the strong growth of China's economy in the long run as it has become a major media for Chinese people," the company said yesterday.

Active user accounts of QQ, its instant messaging tool, reached 522.9 million by the end of 2009.

Full-year revenue jumped 73.9 percent from that of 2008 to 12.4 billion yuan and profit was 5.2 billion yuan in 2009, an 85.4 percent jump.




 

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