Tencent Q3 revenues hit $9.8bn

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Tencent said revenue form digital content "continued to record rapid growth, driven by video subscriptions and by live broadcast revenue".

Tencent reported revenue of $9.8 billion, beating the lone estimate on Zacks Investment Research of $9.39 billion and up 61% from the year-ago period.

Revenue growth was mainly boosted by smartphone games and PC games, payment related services, digital content subscriptions and sales, and online advertising, the company said.

Chinese internet group Tencent reported third-quarter total revenues of CNY 65.2 billion, which represents an increase of 61 percent year-on-year. It now also lays claim to China's most watched streaming video service. Timeline advertising revenue for the service grew 48 per cent to $1.6bn, and it also helped grow associated services such as Tencent's payment platform, which grew by 280 per cent.

She pointed out that Tencent Video has benefited from the popularity of exclusively licensed Chinese drama series, such as Nothing Gold Can Stay.

Tencent this year acquired a 12 per cent share of SnapChat owner Snap and two of its businesses - eBook company China literature and the Sogou search engine - recently held IPOs.

"We actually invested in Snap in the very early days of its growth", Lau said on the call.

The world's biggest games company has smashed expectations for its Q3 2017.

Monthly active users on its WeChat social media app surpassed 980 million, which increased from the prior quarter of 963 million.

The company's smartphone games revenue, which includes income from its popular game Honour of Kings, was up 84% to 18.2 billion yuan, it said. The listing of our online literature platform, China Literature, in November also reflects the value of our years of investment in the business.

Tencent owns League of Legends creator Riot Games and Clash of Clans maker Supercell. It also owns significant interests in United States developers Riot Games, Epic Games, Glu Mobile and Activision Blizzard; British studios Milky Tea and Frontier Developments; South Korean firm CJ Games; and Japanese company Aiming.

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