- Tencent reported its Q4 2019 financial results, with total revenues for Q4 up 25% to ¥105.8B RMB ($14.9B USD); and a net income of ¥22.4B ($3.14B), up 60% compared to the same period last year.
- The company’s full-year 2019 earnings revealed that total revenues were up 21% to ¥377.3B ($54.1B) and a net income of ¥95.9B ($13.5B), which is a 20% year-over-year increase, was generated.
- Online game revenues for the fourth quarter of 2019 rose by 25% compared to the same period last year to ¥30.3B ($4.26B), driven by mobile games revenues.
Yesterday, Chinese multinational investment holding conglomerate Tencent Holdings released its Q4 2019 and full year 2019 earnings for the period ended Dec. 31. The company generated total net revenues of ¥105.8B ($14.86B) in Q4 2019, an increase of 25% over the fourth quarter of 2018.
Total revenues for the full year were ¥377.3B ($54.1B), which is a year-over-year increase of 21%, from ¥312.7B ($44B) in 2018.
The company reported that its Q4 revenues from online games rose by 25% compared to the same period last year to ¥30.3B ($4.26B). According to Tencent’s report call, the increase was primarily driven by revenue growth from smartphone games in both domestic and overseas markets, including titles such as Peacekeeper Elite and PUBG Mobile, as well as revenue contribution from Clash Royale developer Supercell titles, partly offset by lower revenues from PC client games.
“During 2019, we extended our China leadership and made notable progress in our overseas business, largely due to the success of our games PUBG Mobile and Call of Duty Mobile, as well as the new mode Teamfight Tactics within League of Legends,” explained Tencent to its shareholders in an investors relations release. “Our international games revenues more than doubled year-on-year, constituting 23% of our online games revenue in the fourth quarter of 2019. As of the end of 2019, five out of the top ten most-popular smartphone games by daily active users (DAUs) internationally were developed by us.”
During the fourth quarter of 2019, Tencent generated a net income of ¥22.4B ($3.14B), which is an increase of 60% year-over-year, while increasing its net margin increased to 21% from 17% last year. Distributed to shareholders of the company, the profit translated into earnings per share (EPS) of ¥2.28 ($0.32). In 2019, the company made a net income of ¥95.9B ($13.5B), up 20% compared to the full-year result of 2018.
Note: The Esports Observer used the exchange rate in effect as of Mar. 19 at a rate of 7.10796 RMB to 1 USD for currency conversions in this article.
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