Revenues are rapidly increasing, Delta Force has great potential — the main takeaway from Tencent's report
In the third quarter of 2024, the Chinese giant Tencent increased all key indicators. This achievement was largely due to the excellent performance of its gaming division.
Delta Force
- Compared to last year, Tencent's revenue grew by 8% to 167.2 billion yuan ($23.9 billion).
- The holding's gross profit reached 88.8 billion yuan ($12.7 billion), up 16%.
- Net income for Tencent's common stockholders jumped 47% to 53.2 billion yuan ($7.6 billion), surpassing analysts' forecasts. As Bloomberg reports, analysts expected a figure of 45.3 billion yuan ($6.28 billion).
- Games generated 31% of Tencent's quarterly revenue, amounting to 51.8 billion yuan ($7.17 billion).
How Tencent's quarterly revenue is distributed across segments
- Game sales in China amounted to 37.3 billion yuan ($5.17 billion), 14% more than a year ago. The main contributors were Valorant, Honor of Kings, Peacekeeper Elite, and Dungeon & Fighter Mobile.
- Tencent noted the success of the tactical shooter Delta Force, released in China on September 26, 2024. According to the company, players spend a substantial amount of time on Delta Force daily, and the project shows a high retention rate. Tencent believes this indicates its "evergreen" potential.
- International market game sales reached 14.5 billion yuan ($2 billion), an increase of 9%. Among the growth drivers, Tencent highlighted PUBG Mobile and Brawl Stars.
- Tencent reported that the console version of Valorant performed well on the international market. Following its release, the game's quarterly gross receipts grew by 30% compared to 2023. In China alone, Valorant's gross receipts and DAU hit record highs.