Tencent generated revenue of RMB 125.45 billion in the third quarter, higher than market estimates of RMB 123.83 billion, the company reported today.
Its third-quarter net profit came in at RMB 38.54 billion, higher than the market estimate of RMB 30.26 billion.
Tencent's third-quarter online game revenue rose 45 percent year-on-year to RMB 41.422 billion; mobile game revenue totaled RMB 39.173 billion; and personal computer client game revenue was RMB 11.631 billion.
Revenue from Tencent's financial technology and enterprise services business increased 24% year-on-year to RMB 33.255 billion in the third quarter, compared to RMB 26.758 billion in the same period of 2019.
Over 10,000 Tencent employees get Huawei Mate Xs foldable phone as holiday gift
Tencent's third-quarter value-added services revenue was RMB 69.802 billion, up 38% year-on-year, compared with RMB 50.629 billion in the same period last year.
Its paid value-added service accounts grew 25% year-on-year to 213 million, mainly from growth in video and music content service memberships. Video membership grew 20% year-on-year to 120 million, while music membership grew 46% year-on-year to approximately 52 million.
Monthly active users on Tencent WeChat reached 1.21 billion, compared to the market estimate of 1.21 billion.
The number of monthly active accounts on Tencent QQ smart terminals was 617 million, down 5.5% year-on-year.
The average number of daily active accounts in the first ten months of 2020 exceeded 100 million, as its handheld game "Honor of Kings" celebrated its fifth anniversary.
Tencent's total revenue for the first three quarters of 2020 was RMB 348.395 billion, up 28% year-on-year. On a non-IFRS basis, profit attributable to equity holders was RMB 89,535 million, an increase of 30% year-on-year.
Tencent has invested in over 800 companies, 160 are unicorns
