• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Gaming

Tencent Q1 Profit Jumps By 65% As Online Gaming Revenue Climbs

by Priyansh Sidhwani
May 20, 2021
in Gaming, News
Reading Time: 2 mins read
0
Tencent
TwitterWhatsappLinkedin

Tencent Q1 Profit Jumps By 65% As Online Gaming Revenue Climbs

Tencent

You might also like

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

Tencent Holdings, the Chinese gaming, and social media giant Tencent Holdings reported a 65% increase in quarterly profit, driven by a rise in the sales of its popular video games. Tencent said revenue rose year-on-year to RMB125.4 billion ($18.9 billion), while net income rose by RMB38.5 billion in the quarter.

Tencent Holdings booked a profit of 47.77 billion yuan ($7.42 billion) for the three months through March, higher than the estimated published by a major source of 35.45 billion yuan.

The revenue at Chinese gaming and social media firm Tencent Holdings rose by 25% to 135.3 billion yuan, exceeding market expectations of 134.39 billion yuan. The findings come after Chinese regulators stepped up an antitrust crackdown on internet giants and fined Tencent, the world’s largest gaming company by revenue, and rival Alibaba $27.5 billion. Revenue rose 25% to 135.3 billion yuan, exceeding market expectations of 134.39 billion yuan.

China is tweaking its $1.2 trillion pension system in order to increase the private sector in the face of looming population aging and under-funding and experts say fundamental changes are needed to create an adequate safety net. A source with direct knowledge of the matter told Reuters that the China Banking and Insurance Regulatory Commission (CBIRC) the country’s top banking and insurance regulator, is considering approving a list of private pension funds and hiring a group of professional managers to run them under a new program. The Chinese gaming and social media giant Tencent Holdings Ltd reported a 65% gain in quarterly profits, as management confirmed its focus on compliance as China tightens control over the tech giants.

Tencent-owned music streaming company Tencent Music, said earlier this week that it is facing heightened scrutiny from Chinese regulators.

Last month Reuters published a report about Chinese anti-trust regulators telling Tencent to pay a fine of an expected 10 billion yuan, along that to sell some of the company’s music assets and to give up the rights to its exclusive music.

At the time of writing this Tencent has not yet commented on this matter.

Tencent stated a while ago that the company is investing in services, games, and short-form video content. Tencent generally gets 32% of its revenue from video games, and according to major sources, a Pokemon game in partnership with Nintendo is expected later this year. A total of 60 new titles were unveiled by Tencent at its annual video gaming conference a while ago. The gaming giant is also looking to bring the popular IP League Of Legends to mobile devices soon.

 

Tags: League of LegendsTencent
Tweet54SendShare15
Previous Post

A Survey Revealed That 59% Of Women Hide Their Identity In Games

Next Post

Roblox Queen MeganPlays Is Making Millions

Priyansh Sidhwani

Hi! I'm Priyansh, I write articles about gaming news here at Techstory. To get in touch E-mail: [email protected].

Recommended For You

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

by Anochie Esther
July 10, 2025
0
NRIs

US President Donald Trump on Wednesday, July 9, 2025, announced a fresh wave of tariff demand letters, signaling a renewed and assertive push in his administration's trade policy....

Read more

Starlink Clears Final Regulatory Hurdle, Poised for Launch in India

by Anochie Esther
July 10, 2025
0
Starlink

After years of anticipation and navigating a complex regulatory landscape, Elon Musk's satellite internet venture, Starlink, has finally received the definitive green light to launch commercial operations in...

Read more

Nvidia Shatters Records with $4 Trillion Market Value Amidst AI Supremacy

by Anochie Esther
July 10, 2025
0
Nvidia

Nvidia, the undisputed leader in graphics processing units (GPUs) and a pivotal force in the artificial intelligence (AI) revolution, achieved a historic milestone on Wednesday, July 9, 2025....

Read more
Next Post
MeganPlays

Roblox Queen MeganPlays Is Making Millions

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?