Tencent Announces 2018 First Quarter Results
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Revenues from our VAS business increased by 34% to RMB46,877 million for the first quarter of 2018 on a year-on-year basis. Online games revenues grew by 26% to RMB28,778 million. The increase was mainly driven by revenue growth from our smart phone games, including existing titles such as Honour of Kings, and newly launched titles such as MU Awakening and QQ Speed Mobile. Revenues from our PC client games were broadly stable. Social networks revenues increased by 47% to RMB18,099 million. The increase primarily reflected growth in revenues from digital content services such as live broadcast, video streaming subscriptions and our music service namely WeSing, as well as from in-game virtual item sales.
Revenues from our online advertising business increased by 55% to RMB10,689 million for the first quarter of 2018 on a year-on-year basis. Social and others advertising revenues grew by 69% to RMB7,390 million, mainly benefiting from an expanded advertiser base boosting advertising fill rates in Weixin Moments, and higher CPC for our mobile advertising network. Media advertising revenues increased by 31% to RMB3,299 million, primarily driven by revenue growth from Tencent Video due to an increase in video views, and new advertising formats within original productions.
Revenues from our other businesses increased by 111% to RMB15,962 million for the first quarter of 2018 on a year-on-year basis. The increase primarily reflected contributions from our payment related and cloud services as a result of the expansion of our business scale. |
