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Tencent posts Q1 profit increase of 2.8%
By Ding Yining |
May 17, 2012, Thursday
|
Online Edition
Online Edition
TENCENT, China's largest Internet company in terms of user base and market capitalization, said its first-quarter profit gained 2.8 percent year on year with increased earnings from online games.
Revenue jumped 52 percent to 9.65 billion yuan, the company said in a filing to the Hong Kong Stock Exchange yesterday.
Tencent registered more than 751 million users for its popular QQ instant messaging tool by the end of March.
Income from Internet value-added services, such as online games and QQ-related subscription fees, rose 41 percent to 7.38 billion yuan while online advertising sales hiked 92 percent to 540 million yuan.
The company has succeeded to attract its users to other Tencent services beyond online chatting and online gaming platforms.
"We saw strong spending at our gaming platforms during Chinese New Year holidays and will continue to invest in innovative products and new technologies to address challenges in the dynamic Internet industry," said Tencent chairman and CEO Ma Huateng.
"The popularity of smart phones has led more and more customers to access our products through cell phone applications and this has pushed up the overall time each customer spent on Tencent," Tencent president Martin Lau said during a conference call after the earnings release.
Revenue jumped 52 percent to 9.65 billion yuan, the company said in a filing to the Hong Kong Stock Exchange yesterday.
Tencent registered more than 751 million users for its popular QQ instant messaging tool by the end of March.
Income from Internet value-added services, such as online games and QQ-related subscription fees, rose 41 percent to 7.38 billion yuan while online advertising sales hiked 92 percent to 540 million yuan.
The company has succeeded to attract its users to other Tencent services beyond online chatting and online gaming platforms.
"We saw strong spending at our gaming platforms during Chinese New Year holidays and will continue to invest in innovative products and new technologies to address challenges in the dynamic Internet industry," said Tencent chairman and CEO Ma Huateng.
"The popularity of smart phones has led more and more customers to access our products through cell phone applications and this has pushed up the overall time each customer spent on Tencent," Tencent president Martin Lau said during a conference call after the earnings release.
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