Tencent's revenue intake from PC games dropped 15 per cent year-on-year to $1.7 billion for the three months ending September 30 2018.
According to the Shenzen-based internet behemoth, the decline was due to user’s migration to mobile games and “the high base in the same quarter last year".
That said, Tencent also reported in its financials that cash sales, before deferral, increased. The boost came from "favourable seasonality" and content updates for CrossFire, Dungeon & Fighter and Tencent's sports titles.
Riot Games' League of Legends was also given the nod from Tencent, with the MOBA achieving viewership records for its World Championship final, which saw Invictus Gaming become the first mainland China team to win the Championship.
“During the third quarter of 2018, we registered strong operating results in our businesses and maintained
healthy financial metrics,” said Tencent CEO Ma Huateng.
“Our advertising, digital content, payment and cloud services sustained robust activity and revenue growth, and now account for the majority of our revenue.
"For our game business, we implemented stringent self-imposed limitations on games playing by minors, which we believe put the game industry on a healthy and more solid foundation for future development.
"At the end of the quarter, we upgraded our organisation to help enterprises and various industries to benefit from the new trend of industrial internet through digitisation and technology innovation, and to provide consumers with better-integrated entertainment and social experiences, as well as to unify our advertising sales platforms.
"We believe this strategic organisational upgrade will position us well for future long-term growth.”
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