Tencent's Mobile Revenues Rise 2% Quarter-Over-Quarter to $123.7M
As revenue growth from traditional paid mobile services like SMS slows down, China’s Tencent plans to spend more on developing its own in-house mobile games and apps (like the Instagram clone pictured above).
Mobile revenue rose 2.1 percent quarter-over-quarter to $123.7 million, the company said in its earnings statement today. Tencent said mobile social networking and gaming was mostly responsible for that increase as revenue from bundled text-message plans held steady. Growth slowed in part because carrier China Mobile introduced a new service cancellation policy, which will continue to have a dampening effect for the “foreseeable future,” the company said in a statement today.
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