Tencent's Explosive Earnings Powered by Virtual Goods and Social Games
Tencent, the China-based social network, communications, and gaming company, continues to bring in staggering revenue, comprised mostly from the sale of virtual goods. In the second quarter, the company reported revenues of $421 million, a 14 percent increase from the previous quarter. From the same time last year, it represents a remarkable 79 percent increase.
Categorized “internet value added services,” virtual goods accounted for $315 million in revenue in the second quarter. That’s a 13 percent increase from last quarter, and a year over year increase of about 108 percent.
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