Tencent Q1 2010 Profit Up 72% YoY
Tencent IR, 5/12/10
Chinese Internet and mobile & telecommunications value-added services provider Tencent (0700.HK) has announced its unaudited consolidated results for the first quarter of 2010 ended March 31, 2010. Total revenues were RMB 4,226.1 mln (USD 619.1 mln), an increase of 14.6% over the fourth quarter of 2009 or an increase of 68.7% over the first quarter of 2009.
Profit attributable to equity holders of the company was RMB 1,783.2 mln (USD 261.2 mln), an increase of 18.3% QoQ or an increase of 72.2% YoY.
Revenues from Internet value-added services ("IVAS") were RMB 3,387.4 mln (USD 496.2 mln), an increase of 19.0% QoQ or an increase of 77.9% YoY. Revenues from mobile & telecommunications value-added services ("MVAS") were RMB 618.2 mln (USD 90.6 mln), an increase of 12.4% QoQ or an increase of 40.7% YoY. Revenues from online advertising were RMB 204.3 mln (USD 29.9 mln), a decrease of 26.8% QoQ or an increase of 39.4% YoY.
Active Instant Messaging ("IM") user accounts increased 8.7% QoQ to 568.6 mln. Peak simultaneous online user accounts for IM services increased 13.2% QoQ to 105.3 mln. Active user accounts of Qzone increased 10.4% QoQ to 428.0 mln. Peak simultaneous online user accounts of QQ Game portal (for mini casual games only) increased 9.7% QoQ to 6.8 mln. IVAS paying subscriptions increased 16.1% QoQ to 59.9 mln. MVAS paying subscriptions increased 14.8% QoQ to 23.3 mln.
To see Tencent's full earnings report, please click here.
Keywords: PCU Internet profit online advertising Qzone Tencent instant messaging QQ IVAS 0700.HK Q1 2010 QQ Games revenue users fiscal report WVAS
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