Tencent Q3 2009 Net Profit Up 93% YoY

<- November 11, 2009 ->

Tencent, 11/11/09

Chinese Internet, mobile and telecommunications value-added services provider Tencent (0700.HK) has announced its unaudited financial results for Q3 ended September 30, 2009. Q3 2009 net revenues reached RMB 3.37 bln (USD 493.3 mln), up 66.4 % year-on-year and 17.0 % quarter-on-quarter.

Net profit for Q3 2009 was RMB 1.42 bln (USD 207.9 mln), an increase of 92.6% YoY and 19.1% QoQ.

For Q3 2009, revenues from Internet value-added services (IVAS) were RMB 2.62 bln (USD 384.0 mln), an increase of 87.3% YoY. Revenues from mobile and telecommunications value-added services (MVAS) were RMB 446.2 mln (USD 65.3 mln), an increase of 19.8% YoY. Revenues from online advertising were RMB 293.6mln (USD 43.0 mln), an increase of 17.9% YoY.

Total registered instant messaging (IM) user accounts increased to 1,057.0 mln, representing a 6.8% growth QoQ. Active IM user accounts increased 8.2% QoQ to 484.9 mln. Peak concurrent online user accounts for IM services reached 75.5 mln, up 23.2% QoQ. Peak concurrent online user accounts of QQ Games portal (for mini casual games only) was 5.7 mln, representing a 8.1% decrease QoQ. IVAS paying subscriptions were 47.9 mln, an increase of 19.8% QoQ. MVAS paying subscriptions were 17.7 mln, an increase of 2.9% QoQ.

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

Keywords: PCU, QQ Games, Internet, profit, online advertising, Q3 2009, Tencent, instant messaging, QQ, IVAS, 0700.HK, revenue, fiscal report, WVAS, VAS, wireless, online gaming

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