Tencent's revenue up 47 pct in H1
0 Comment(s)
Print
E-mail
Xinhua, August 11, 2011
China's leading web-portal Tencent released its interim revenue report Wednesday. In the six-month ending June 30, the company recorded a revenue of 13.1 billion yuan (2.04 billion U.S. dollars), up 47 percent from the same period last year.
According to a release by the Hong Kong Exchange and Clearing, profit of Tencent climbed about 41.1 percent to 5.22 billion yuan in the first half of 2011 and equity holders were entitled to 2.86 yuan of earnings for each share during the period.
The company also released figures for the second quarter, with revenue up 44.3 percent to 6.7 billion yuan and profit up 22.6 percent to 2.35 billion yuan.
The company said in the second quarter of 2011, its platforms and revenues registered continued growth. However, the growth rates "reduced alongside with the overall Internet market in China, which experienced a lower user base growth rate as its scale expanded."
In order to grasp the emerging opportunities, the company put a strong focus on implementing its "open platform strategy" and new product development, with key initiatives including infrastructure enhancements, alliances and strategic investments.
In addition, Tencent will continue to make significant investments in existing products, and new strategic products including microblog, e-commerce, search, online security, online video and international expansion.
