Tencent Reports Strong Q3 Growth

C. Custer
5:52 am on Nov 15, 2012

tencent

Photo: jp.techcrunch.com

Tencent, one of the biggest of China’s tech giants, has just released its third quarter financials. And — to no one’s surprise at all — they’re pretty good. The company took in more than $1.8 billion in revenue and profit for the quarter was $511 million. Although this quarter’s net margin declined slightly from last quarter, total revenue and profits are up year-on-year and from last quarter.

Perhaps more interesting than those numbers, though, are the user numbers. Across its various instant messaging services, Tencent has 783.9 million monthly active users. Given the popularity of QQ and WeChat that might not be a surprise, but it also claims 592.8 million monthly active users for its Qzone social network, which is pretty impressive, and another 258.9 million monthly active accounts for its Pengyou platform.

All in all, it has been another strong quarter for Tencent. That looks to continue, as Tencent claims in its release that WeChat is the largest mobile community in China, meaning that Tencent owns the instant messaging game both on and off of traditional PCs. (And of course, the company is no slouch when it comes to games or social media platforms, either).

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