Tencent has withstood China’s nine-month-long licensing freeze from 2018 with just a one per cent year-on-year decline in online games revenue to 28.5 billion RMB ($4.1bn) in Q1 2019.

Despite that decline, cash receipts increased 10 per cent from Q1 2018.

Revenue for smartphone games fell two per cent year-on-year to 21.2bn RMB ($3.1bn), though this was up 11 per cent from the previous quarter.

Over on PC, sales declined two per cent year-on-year to 13.8bn RMB ($2bn), though were up 24 per cent quarter-on-quarter.

Overall company sales for Tencent increased by 16 per cent from the year prior to 85.4bn RMB ($12.7bn). Profit for the period was reported at 27.8bn RMB ($4.1bn), also an increase of 16 per cent.

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