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Tencent announces $5.88B Q3 profit

Chinese entertainment giant Tencent, owner of Riot Games, showed a profit of $5.88 billion in the third quarter.

It marks an increase of 85 percent year over year.

Revenues came in $18.9 billion, up 45 percent year over year. Net income trounces the company’s profit in the same quarter of the previous two years, bettering last year’s by $2.7 billion and 2018 by $2.3 billion.

Tencent attributed its Q3 numbers from domestic mobile games such as Peacekeeper Elite and Honor of Kings, both of which exceeded 100 million average daily users in the first 10 months of 2020.

Tencent products include League of Legends, FIFA Online 3, NBA 2K, Monster Hunter, Need for Speed and PlayerUnknown’s Battlegrounds.

–Field Level Media

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