Tencent Announces Third Quarter Performance Payment and Cloud Computing Revenue Growth
Tencent recently announced its third-quarter results, with revenue of 40.348 billion yuan, a year-on-year increase of 52%, and net profit of 10.646 billion yuan, a year-on-year increase of 43%. In addition to the continued strength of mobile games and circle of friends, the revenue growth from payments and cloud services is also amazing.
Ma Huateng, chairman and CEO of Tencent, said that both smartphone games and social performance advertising businesses have achieved year-on-year revenue growth above the industry. At the same time, ecosystem-based services, including online payments and cloud services, have also made significant progress in coverage and usage.
Specifically, Tencent's online game revenue increased 27% to 18.166 billion yuan, and performance advertising revenue increased 83% to 4.368 billion yuan, mainly due to contributions from WeChat friends circle, Tencent mobile news and WeChat public account advertising revenue. Tencent's other business revenue increased by 348% year-on-year to 4.964 billion yuan, which was mainly due to the growth of Tencent's payment related services and cloud service revenue.
Tencent Announces Third Quarter Performance Payment and Cloud Computing Revenue Growth The payment service represented by WeChat payment and the cloud service represented by Tencent Cloud are the focus of the current and future Internet industry competition. The main competitors Ali and Baidu are all attacking in these two major businesses. Tencent said that it has made significant progress in promoting the access and use of WeChat payment merchants. For example, the “No Cash Day†promotion activity on August 8th, nearly 700,000 merchants participated, which increased by more than seven times compared with the same period of last year; And the increase in usage of major customers (especially online games, online video, O2O service industry), Tencent cloud service revenue has more than doubled.
Ma Huateng, chairman and CEO of Tencent, said that both smartphone games and social performance advertising businesses have achieved year-on-year revenue growth above the industry. At the same time, ecosystem-based services, including online payments and cloud services, have also made significant progress in coverage and usage.
Specifically, Tencent's online game revenue increased 27% to 18.166 billion yuan, and performance advertising revenue increased 83% to 4.368 billion yuan, mainly due to contributions from WeChat friends circle, Tencent mobile news and WeChat public account advertising revenue. Tencent's other business revenue increased by 348% year-on-year to 4.964 billion yuan, which was mainly due to the growth of Tencent's payment related services and cloud service revenue.
Tencent Announces Third Quarter Performance Payment and Cloud Computing Revenue Growth
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