Tencent sees steady growth in Q3
Shanghai. November 11. INTERFAX-CHINA - Hong Kong Stock Exchange-listed Tencent Holdings Limited recorded net profit of RMB 2.17 billion ($328 million), up 51.3 percent year-on-year, the company announced Nov. 10 via unaudited fiscal result for the third quarter (Q3) of 2010.
Tencent generated total revenue of RMB 5.23 billion ($780 million) in Q3, up 55.1 percent year-on-year.
Broken down by core business segments, the company's Internet value-added services, mobile and telecom value-added services and Internet advertising generated RMB 4.13 billion ($616 million), RMB 695 million ($104 million), and RMB 383 million ($57 million), respectively.
Meanwhile, Tencent's instant messaging (IM) tool QQ clocked 636.6 million active subscribers as of the end of September, with some 20 million of the subscribers affected by Tencent's recent dispute with Internet security firm Qihoo 360 Technologies Co. Ltd. (Qihoo 360), according to the report. The dispute, which centers around Qihoo's 360's reported interference with QQ, had not yet had a detrimental effect on Tencent's results, said Liu Zhiping, Tencent's president, in a press release on Nov. 10.
Tencent disabled its QQ IM tool on computers using Qihoo 360's software earlier this month, according to a previous Interfax report.
Tencent's online game division recorded revenue of RMB 2.58 million ($390 million) in Q3, up 19.3 percent year-on-year.