Jesus Christ: Chinese Gaming Giant Tencent Earns $1 Billion in Quarterly Profits - Polidicks

[IMG]http://mattsgames.it/wp-content/uploads/2013/05/tencent-logo.jpg[/IMG] [quote=Gamasutra] Chinese games giant Tencent today reported significantly increased first quarter revenues and profits, thanks in part to a notable expansion for its mobile games business. For the quarter ended March 31, 2014, Tencent posted huge numbers, with revenues of 18.4 billion Chinese Yuan ($3.0 billion), up 36 percent year-over-year, and profits of 6.5 billion Chinese Yuan ($1.0 billion), up 60 percent year-over-year. (...) Tencent owns a majority stake in League of Legends developer Riot Games, and a minority stake in Unreal Engine developer Epic Games. (...) Tencent's online game revenues were mostly driven by smartphone game sales, said the company, although earnings from major PC titles were also a big factor. The company says that Blade & Soul in particular "made significant revenue contribution." Tencent says that its paying user base for mobile games more than doubled during the first quarter, while total revenues from mobile games approximately tripled as a result, to over RMB1.8 billion. Source:[url]http://www.gamasutra.com/view/news/217690/1_billion_in_quarterly_profits_for_Chinese_game_giant_Tencent.php[/url] [/quote] It's no news that China is the fastest growing mobile market and will pass the U.S in active paying users by the end of the year, but nobody expected [I]this. [/I]For comparison, Ubisoft pulled ~$1,115,192,682 with first through third quarter [I]combined [/I]in sales, excluding operating costs.

this is only the beginning

That's a little more than just Tencent

2/3rds of that amount is from League.

"thanks in part to a notable expansion for its mobile games business." no, thanks to league

Oh, Blade and Soul got a mention. The game that ranks up there with Phantasy Star Online about getting ported to the US (as in never, but always talked about).

[QUOTE=Map in a box;44808867]"thanks in part to a notable expansion for its mobile games business." no, thanks to league[/QUOTE] tencent is a bigger and larger version of zynga. it was huge before it got a hold of league of legends.

It's always strange to hear of these huge giants in Asia that the western world basically doesnt know about. Just heard a radio report about alibaba.com, it's bigger than Amazon and ebay combined.

[QUOTE=G3rman;44809308]Oh, Blade and Soul got a mention. The game that ranks up there with Phantasy Star Online about getting ported to the US (as in never, but always talked about).[/QUOTE] The Russians got BDO and BnS before America did. I can't tell if it's the next plot for Call of Duty, or if the F2P MMO market for America is THAT bad.

[QUOTE=Killuah;44810870]It's always strange to hear of these huge giants in Asia that the western world basically doesnt know about. Just heard a radio report about alibaba.com, it's bigger than Amazon and ebay combined.[/QUOTE] When I bout a Huawei phone a few years back I had no idea they were second to the biggest company behind Sony Ericsson only took a few weeks later for them to be the biggest of all.

[QUOTE=Killuah;44810870]It's always strange to hear of these huge giants in Asia that the western world basically doesnt know about. Just heard a radio report about alibaba.com, it's bigger than Amazon and ebay combined.[/QUOTE] Alibaba does business-business more than business-consumer, which is why we never hear about it.

IIRC they also own WeChat which is a popular chatting app in Asian countries.

[QUOTE=adam1172;44813117]IIRC they also own WeChat which is a popular chatting app in Asian countries.[/QUOTE] And QQ, if I'm thinking of the right company.

Well, their revenue will probably shoot up even higher if the rumors of them merging with Fifty Cent is confirmed.

[QUOTE=Jad Hinto;44813160]Well, their revenue will probably shoot up even higher if the rumors of them merging with Fifty Cent is confirmed.[/QUOTE] Rapper/East Asian conglomeration: 60 cent.