Tencent generates 13 percent more revenue in the third quarter

Beijing: Chinese Internet giant Tencent generated about 142.4 billion yuan (about $22.27 billion) in total revenue during the third quarter of 2021, up 13 percent year over year.

The company’s net profit, computed on a non-IFRS basis, is to reflect its basic income excluding certain lump-sum or non-cash items. during the same period fell 2 percent annually to about 31.75 billion yuan.

Notably, the company’s revenue from the fintech and business services sectors grew 30 percent in the third quarter to about 43.3 billion yuan, which is about a third of its total revenue.

The company also disclosed data about its underage sports players in its latest financial statement. On September 1, Tencent began implementing a series of measures to comply with China’s new rules on restricting gaming time for its underage citizens, Xinhua news agency reported.

In September, the time spent by minors in gaming fell to 0.7 per cent of the company’s total home gaming time, a significant drop from the 6.4 per cent recorded in September 2020.

Minors accounted for 1.1 percent of Tencent’s total home gaming income in September, down from the 4.8 percent reported in September 2020.

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