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Tencent Reports Record Earnings In Large Part Thanks To Gaming

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.

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