Tencent’s revenue in Q3 was 125.45 billion RMB, marking a year-on-year increase of 29%. Among Tencent’s three key business areas (value-added services, fintech and enterprise services), value-added services remained the largest and fastest growing sector with revenue growth of 38%. Value-added services includes gaming which helps to explain the sector’s success.
Tencent’s gaming business, which includes leading mobile games Honor of Kings and Game For Peace, makes up 33% of the tech giant’s total revenue. Compared to last year, Tencent’s gaming revenue grew by 45% in Q3 to 41.42 billion RMB which is equal to an average daily taking of 450 million RMB.
In 2019, Honor of Kings generated 10.5 billion RMB and the game’s average daily active users exceeded 100 million in the first 10 months of 2020.
Read more about gaming:
- Case study: Game for Peace launches carnival with top DJs
- Burberry partners with Honor of Kings to appeal to gaming audience
- Suning launches Singles’ Day esports night with gaming platform Huya
- China’s biggest gaming livestreaming platforms to be merged by Tencent
