Tencent Q3 2012 Profit Up 32% YoY
Tencent IR, 11/14/12
Chinese internet company Tencent (0700.HK) has announced its financial results for the three months ended September 30, 2012. Total revenues were RMB 11.57 bln (USD 1.82 bln), an increase of 9.9% QoQ and an increase of 54.3% YoY.
Profit for the quarter was RMB 3.24 bln (USD 511.1 mln), up 4.2% QoQ and up 32.5% YoY.
Revenues from the company's IVAS business increased 7.5% QoQ to RMB 8.37 bln and represented 72.4% of total revenues. Online game revenues increased 7.3% QoQ to RMB 5.97 bln. This primarily reflected growth in games revenues from China which benefited from the positive impact of summer holidays on titles such as first person shooter CrossFire, casual games QQ Dancer and QQ Speed, as well as contributions from new titles, such as 3D MMORPG Legend of Yulong. Revenues from the company's community and open platforms increased 7.9% QoQ to RMB 2.40 bln, mainly driven by growth in item-based sales within applications on the company's open platforms.
Revenues from the company's wireless value-added services (WVAS) business increased 1.9% QoQ to RMB 946.2 mln and represented 8.2% of the company's total revenues for the third quarter of 2012. This primarily reflected an increase in revenues from the company's mobile games and mobile books. Revenues from the company's online advertising business increased 15.4% QoQ to RMB 1.02 bln and represented 8.8% of total revenues for the third quarter of 2012. Brand display advertising revenues increased, reflecting the positive impact of the London Olympic Games, and performance display advertising grew, as advertisers spent more on the company's social networks' inventory.
Revenues from the company's e-Commerce transactions business increased 32.2% QoQ to RMB 1.13 bln and represented 9.8% of the company's total revenues for the third quarter of 2012. This was mainly driven by increased volume of e-Commerce transactions in which we act as principal. Fees generated from transactions on the company's marketplace also contributed to the growth rate.
In September 2012, Tencent announced the completion of a USD 600 mln senior unsecured notes offering. This is the company's second international bond issue, following the company's first such transaction in December 2011.
To view the complete report please see here.
Keywords: CrossFire QQ Dancer QQ Speed e-commerce Legend of Yulong profit online advertising MMORPG Tencent QQ IVAS 0700.HK display advertising Q3 2012 FPS online gaming revenue fiscal report mobile book mobile gaming SNS 3D game WVAS SP Internet wireless
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