In the third quarter of 2024, the Chinese giant Tencent increased all key indicators. This achievement was largely due to the excellent performance of its gaming division.
Delta Force
- Compared to last year, Tencent's revenue grew by 8% to 167.2 billion yuan ($23.9 billion).
- The holding's gross profit reached 88.8 billion yuan ($12.7 billion), up 16%.
- Net income for Tencent's common stockholders jumped 47% to 53.2 billion yuan ($7.6 billion), surpassing analysts' forecasts. As Bloomberg reports, analysts expected a figure of 45.3 billion yuan ($6.28 billion).
- Games generated 31% of Tencent's quarterly revenue, amounting to 51.8 billion yuan ($7.17 billion).
How Tencent's quarterly revenue is distributed across segments
- Game sales in China amounted to 37.3 billion yuan ($5.17 billion), 14% more than a year ago. The main contributors were Valorant, Honor of Kings, Peacekeeper Elite, and Dungeon & Fighter Mobile.
- Tencent noted the success of the tactical shooter Delta Force, released in China on September 26, 2024. According to the company, players spend a substantial amount of time on Delta Force daily, and the project shows a high retention rate. Tencent believes this indicates its "evergreen" potential.
- International market game sales reached 14.5 billion yuan ($2 billion), an increase of 9%. Among the growth drivers, Tencent highlighted PUBG Mobile and Brawl Stars.
- Tencent reported that the console version of Valorant performed well on the international market. Following its release, the game's quarterly gross receipts grew by 30% compared to 2023. In China alone, Valorant's gross receipts and DAU hit record highs.