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Tencent’s Q1 gaming revenue shows signs of recovery despite challenges
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TechNode
Tencent’s revenue from the international gaming market increased by 3% year-on-year to RMB 13.6 billion ($1.88 billion) during the period, while revenue from the domestic gaming market decreased by 2% year-on-year to RMB 34.5 billion ($4.77 billion).
Details: Tencent’s gaming revenue totaled RMB 48.1 billion ($6.66 billion) in the first three months of 2024, marking a 17.6% increase quarter-on-quarter and a 0.41% decrease year-on-year.
However, both games saw a year-on-year revenue increase in March.
In the first quarter of 2023, Tencent’s revenue from games reached RMB 48.3 billion ($6.9 billion), up 11% up year-on-year.
Tencent’s domestic gaming revenue during the period rose 6% year-on-year to RMB 35.1 billion ($5 billion), while its overseas gaming revenue rose 25% to RMB 13.2 billion ($1.8 billion).
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