Tencent posts 21 percent revenue growth in Q2

China's internet giant Tencent on Wednesday reported strong second-quarter earnings, with revenue reaching 88.8 billion yuan (about 12.7 billion U.S. dollars), up 21 percent year on year.


(File Photo: CGTN)
Profit attributable to equity holders for the period rose 35 percent year on year to hit 24.1 billion yuan. 
Total revenue and profit attributable to equity holders for H1 were 174.3 billion yuan and 51.3 billion yuan, up 18 percent and 25 percent respectively year on year.

"During the second quarter, Tencent sustained solid user, revenue and profit growth and executed on key initiatives amid the challenging business environment," said Tencent's chairman and CEO Ma Huateng, noting that the company will continue to invest in enhancing its platforms, services and technologies. 
Revenues from online games rose by eight percent to 27.3 billion yuan, with smartphone games revenues amounting to 22.2 billion yuan, up 26 percent year on year. 
Revenues from FinTech and business services saw a robust growth of 37 percent year on year to 22.9 billion yuan in Q2, while online advertising revenues increased to 16.4 billion yuan during the period, a 16 percent rise on a year-on-year basis.