Tencent net Reported Its Profit

As CHINA’S top online game operator, Tencent Holdings announced its third-quarter net profit of 1.42 billion yuan (US$208 million), up from 737.1 million yuan last year.

Boosted by strong revenue in online games and value-added services, its net profit for the first three quarters nearly doubled, compared to last year. Profit for the first nine months advanced 90 percent from a year ago to 3.65 billion yuan.

There were 485 million active accounts for the QQ instant messenger service by the end of September. Value-added service users grew 19.75 percent from the previous quarter to 47.9 million. Total revenue surged 66 percent annually to 3.4 billion yuan. Online games surged 87 percent from a year ago, or 23 percent quarter over quarter, to 460 million yuan. Revenues from mobile phone and telecommunications value-added services gained 19.8 percent annually to 446.2 million yuan.

However Liu Chiping, executive director of Tencent said that Tencent will pay less attention to mobile service as there will be less demand with the launch of 3G technology in the domestic market.

This news is from China electronics manufacturer.

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