Tencent posted saw its third-quarter revenues increase by 24 percent year-on-year to CNY 80.5 billion. Revenue growth was mainly boosted by growth in payment-related services, online advertising, digital content sales and cloud services. Operating profit increased by 22 percent year-on-year, while profit jumped 30 percent year-on-year to CNY 23.4 billion for the three months ended 30 September 2018.
Smart device MAU increased by 6.9 percent year-on-year to 697.9 million. Weixin and WeChat MAU reached 1,082.5 million, up 10.5 percent year-on-year.
Smartphone games revenues (including smart phone games revenues attributable to Tencent’s social networks business) grew 7 percent year-on-year and 11 percent quarter-on-quarter to CNY 19.5 billion. Fee-based VAS subscriptions jumped 23 percent year-on-year to 154 million subscriptions, mainly attributable to growth in video subscriptions. The company achieved 82 million video subscriptions, up 79 percent year-on-year and 10 percent quarter-on-quarter.
Tencent’s online advertising business increased 47 percent year-on-year and 15 percent quarter-on-quarter growth in revenues.
