Tencent significantly increased quarterly revenue for the first time in a year

Tencent‘s revenue began to grow significantly again. In the first quarter of 2023, the Chinese company managed to earn $21.8 billion – an 11% increase compared to last year.

Recall that in 2022, Tencent reported a drop in revenue for the first time in 18 years. Its revenues did not grow for almost the entire year, until they showed weak growth of 0.5% in the fourth quarter.

Other data from the Tencent report:

▪️Operating profit rose by 32% to $7 billion;

Tencent’s revenue from Chinese games increased by 6%, amounting to $3.5 billion. Revenue from international games increased by 25% to $1.89 billion;

Honor of Kings, CrossFire and Arena Breakout earned more in January-March 2023 than in any other quarter. VALORANT’s gross revenue increased by 30% compared to the first quarter of 2022.