Tencent reports revenue of $18.4B in Q3, up 29% YoY
Chinese technology conglomerate Tencent Holdings Ltd. said on Thursday its revenue in the third quarter of 2020 landed at ¥125.45 billion, or approximately $18.4 billion, beating analyst estimates and 29% higher compared to the same quarter a year earlier.
The WeChat owner reported net income of ¥38.5 billion or $5.8 billion for the quarter, also above projections. Meanwhile, online game revenue landed at ¥41.4 billion or $6.2 billion.
Monthly active users were reported at 1.2 billion for the quarter.
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