Profits Hit $11 Billion at China’s Tencent as Video Surges

Read on: Variety.

Net profits at Tencent, China’s social media, music and video giant, hit $10.9 billion in 2017, a gain of 74%. Revenues increased by 56% to $36.4 billion as the company claimed to have become the Chinese market leader in streaming video. “Tencent Video achieved rapid growth in traffic and paying users driven by the popularity […]

Tencent Half Year Profits Surge to $4.8 Billion

Read on: Variety.

China’s social media and games giant Tencent announced a 64% surge in profits for the six months to end of June. Net profits hit $4.84 billion, on revenues up 57% at $15.7 billion. The group said that its value added services grew their revenues by 43% to RMB36.8 billion ($5.49 billion). That definition covers music… Read more »

Tencent Profits Increase by 41% in Q3

Read on: Variety.

China’s social media giant Tencent powered ahead with profits growth of more than 40% in the nine months to September. The acquisition of games maker Supercell barely made a dent. Revenues grew by 52% in the third quarter and non-GAAP net profit grew 42% to $1.71 billion (RMB11.7 billion). For the first nine months of… Read more »