Tencent reports strong second quarter revenue growth

Updated: 2016-08-18 09:09


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Tencent reports strong second quarter revenue growth

The logo of Tencent [Photo/IC]

BEIJING - Chinese Internet giant Tencent saw its revenue surge by 52 percent in the second quarter (Q2) of 2016 thanks to strong growth in online gaming and advertisements, the company announced Wednesday.

China's biggest social network and online entertainment firm raked in about 35.7 billion yuan ( $5.4 billion) in Q2, up 52 percent year on year, while revenue in the first half grew by 48 percent to reach about 67.7 billion yuan, according to the company's financial statement.

The firm's value-added services such as online gaming and social networking services were the biggest revenue contributors in Q2, growing 39 percent year on year to reach about 25.7 billion yuan.

Online gaming, especially on mobile platforms, grew 32 percent year on year to reach about 17.1 billion yuan in Q2, while online advertising income surged 60 percent to reach about 6.5 billion yuan.

"Our platforms and services all achieved stable growth in Q2 as a string of strategies enhanced our capability to offer top-level entertainment content," said Pony Ma, board chairman and CEO of Tencent.

In an attempt to expand its global reach, Tencent bought China Music Corporation in July to improve its online music services and also invested in the global mobile game developer Supercell in June, hoping to expand its global reach.