Tencent experiences a 26 per cent revenue increase year-on-year in Q1 2020

Tencent experiences a 26 per cent revenue increase year-on-year in Q1 2020

Chinese Tech giant Tencent saw an increase of 26 per cent year-on-year to ¥108.1 billion ($15.3 billion) for its revenue in Q1 2020.

This information was revealed in Tencent's financial report for the three months ending March 31st. Total profit for the quarter was ¥28 billion ($4 billion), which represents a rise of 29 per cent year-on-year.

Furthermore, online game revenues saw a rise of 31 per cent year-on-year. However, this was mostly driven by mobile, though PC client title DnF generated lower revenues. Overall, PC client games brought in ¥11.8 billion ($1.7 billion).

"As the world tackles COVID-19, our thoughts and hearts go out to all the people who are suffering from the pandemic," said Tencent chairman and CEO Ma Huateng.

"During this difficult period, we seek to provide online services that keep people connected, informed, productive and entertained. So far, our businesses have proved resilient and cash flow-generative, enabling us to increase our investment to fulfil our mission of 'Tech for Good'. We are allocating time and resources, including over ¥2 billion of donations, to contribute to COVID-19 relief initiatives in China and globally."

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.