Chinese conglomerate Tencent have released the earnings for Q1 2020 and have posted numbers exceeding expectations. The company originally estimated revenue of 101.4 billion yuan, but posted 108 billion yuan ($15.2 billion).
The company said in a statement:
“Games serve important roles in keeping players entertained and connected, especially during the stay-at-home period. For mobile games, our studios released attractive content and our publishing teams ran compelling in-game events and activities, resulting in higher DAU (daily active users).”
This is in large part thanks to COVID-19 and the games division which saw online games revenue grow by 31% year-on-year reaching 37.3 billion yuan. Most of it came from popular mobile games in China including Peacekeeper Elite, Honor of Kings, and PUBG Mobile.