Tencent Announces 2019 Second Quarter and Interim Results

The Chinese internet value added services provider Tencent announced its unaudited consolidated results for the second quarter and first half year of 2019 ended June 30, 2019.

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For the second quarter this year, Tencent‘s total revenues were 88,821 million yuan ($12,920 million), an increase of 21% over the second quarter of 2018. Operating profit was 27,521 million yuan ($4,003 million), an increase of 26% year-over-year.

“During the second quarter, we sustained solid user, revenue and profit growth, and executed on key initiatives amid the challenging business environment,” said Ma Huateng, chairman and CEO of Tencent.

Its stock price went up by 1.38% to $43.36 after the release.

According to Ma, Tencent has accelerated their rate of innovation in gaming, releasing successful new titles in several different genres, introducing new play modes, and extending their popular season passes for titles like PUBG. Meanwhile, they continued to strengthen the Healthy Gameplay System, promoting balanced gameplay for younger users and have also expanded merchant adoption of mobile payment services.

Apart from that, Tencent extended and deepened their exclusive relationship with the NBA, and continued to invest in enhancing their platforms, services and technologies.

As for the first half of 2019, the company’s total revenues were 174,286 million yuan ($25,352 million), an increase of 18% over the first half of 2018. Profit for the period was 52,540 million yuan ($7,643 million), an increase of 23% compared with the same period of last year, including profits on a non-GAAP basis of 55,751 million yuan ($8,110 million).