Chinese Internet giant Tencent reports 28% revenue growth in 2020
Mar 27, 2021, 15:14 IST
Chinese Internet giant Tencent has reported a 28 per cent year-on-year growth in revenue for 2020, raking in around 482 billion yuan (about $73.9 billion).
The company's net profit, calculated on a non-IFRS basis in order to reflect its core earnings by excluding certain one-time or non-cash items, that rose 30 per cent year on year to reach about 123 billion yuan during the period, according to its financial statement.
In the final quarter of 2020, its financial technology and business services brought in 38.5 billion yuan, nearly a third of the company's total revenue, registering a 29 per cent year-on-year increase, reports Xinhua.
In the fourth quarter of last year, players under the age of 18 accounted for 6 per cent of the company's domestic online gaming gross receipts, with gamers under the age of 16 accounting for approximately 3.2 per cent of Tencent's total online gaming income in China.
SEE ALSO:
‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century
Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them
The entire list and exciting facts about the 30 assembly constituencies going to polls in West Bengal on March 27
Indian companies will have to disclose cryptocurrency holdings from April 1 – industry insiders welcome decision
Advertisement
The company's net profit, calculated on a non-IFRS basis in order to reflect its core earnings by excluding certain one-time or non-cash items, that rose 30 per cent year on year to reach about 123 billion yuan during the period, according to its financial statement.
In the final quarter of 2020, its financial technology and business services brought in 38.5 billion yuan, nearly a third of the company's total revenue, registering a 29 per cent year-on-year increase, reports Xinhua.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
In the fourth quarter of last year, players under the age of 18 accounted for 6 per cent of the company's domestic online gaming gross receipts, with gamers under the age of 16 accounting for approximately 3.2 per cent of Tencent's total online gaming income in China.
Advertisement
SEE ALSO:
‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century
Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them
The entire list and exciting facts about the 30 assembly constituencies going to polls in West Bengal on March 27
Indian companies will have to disclose cryptocurrency holdings from April 1 – industry insiders welcome decision