Tencent Q4 2008 Net Profit Up 70%

PR Newswire Asia, 3/18/09

Chinese Internet, mobile and telecommunications value-added services provider Tencent (0700.HK) has issued its earnings report for Q4 2008, with total revenues reaching RMB 2.1 bln (USD 306.9 mln), up 86.9% year-on-year. 2008 full-year total revenues rose to RMB 7.2 bln (USD 1.0 bln), an increase of 87.2% over the 2007 figure.

Net income for the quarter came to RMB 876.1 mln (USD 128.2 mln), an increase of 69.5% YoY. Net income for fiscal year 2008 increased 79.6% YoY to RMB 2.8 bln (USD 412.0 mln).

Internet value-added service (IVAS) revenues for the quarter increased 86.9% YoY to RMB 1.5 bln, of which, game-related IVAS revenues increased 18.0% QoQ to RMB 802.5 mln. Wireless value-added service (WVAS) revenues increased 89.0% YoY to RMB 399.9 mln. Online advertising revenues increase 31.2% YoY, but decreased 15.8% QoQ to RMB 209.6 mln

To view Tencent's full earnings report, please click here.

Keywords: 0700.HK Internet IVAS online advertising profit Tencent fiscal report online gaming revenue WVAS

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