'PUBG maker Tencent says non-gaming business revenue contribution to rise

HONG KONG: Tencent Holdings, Asia’s second-most valuable listed firm, said on Thursday its revenue mix will diversify further, with the contribution from the company’s non-gaming business increasing.

Tencent President Martin Lau, who made the comments on the revenue mix, was speaking after the firm reported a sharper-than-expected 32 percent fall in fourth-quarter profit, the most on record for a quarter.

Revenues from our VAS business increased by 9% to RMB43,651 million for the fourth quarter of 2018 on a yearon-year basis. Online games revenues were RMB24,199 million, broadly stable compared to the fourth quarter of 2017.

Social networks revenues grew by 25% to RMB19,452 million. The increase mainly reflected growth in revenues from digital content services such as live broadcast services and video streaming subscriptions.

Revenues from our online advertising business increased by 38% to RMB17,033 million for the fourth quarter of 2018 on a year-on-year basis.

Social and others advertising revenues increased by 44% to RMB11,846 million, primarily contributed by an increase in advertising revenues derived from Weixin Moments, Mini Programs and QQ KanDian.

Headquartered in Shenzhen, China, Tencenet is an internet-based technology and cultural enterprise, founded in 1998.

Guided by its “user oriented” business philosophy, Tencent achieves its mission via the delivery of integrated internet solutions to over 1 billion netizens.

From comics, videos, games and animation to music, literature, films and news, Tencent offers an incredible array of first-class digital content and multi-media services, providing entertainment and cultural enrichment to over 1 billion users across the globe.

As the digital economy gathers pace, in part driven by China’s “Internet Plus” development strategy, Tencent is co-creating an ecosystem through strategic collaboration with our partners and the development of open platforms.

The valuation of these ventures significantly exceeds 100 billion yuan (over US$14.5 billion).