China’s largest Internet company Tencent today announced its fourth quarter 2012 results. The company announced that it beats all expectations as the revenue for the quarter rises 54% to RMB 12.1 billion (about $1.95 billion) while the profits rise to 36.5% year-on-year to 3.46 billion yuan (about $557 million).
“During 2012, widespread smartphone adoption brought both disruption and opportunities to the China Internet industry. At Tencent, we began to see early results from substantial investments we have made, and continue to make, in mobile Internet products,” commented Ma Huateng, Chairman and CEO of Tencent.
Tencent Q4 2012 Revenues Breakup:
- Revenues from IVAS were 8,455.9 million RMB ($1,345.3 million), an increase of 1.0 percent QoQ
- Revenues from MVAS were 933.9 million RMB ($148.6 million), a decrease of 1.3 percent QoQ or an increase of 9.3 percent YoY
- Revenues from online advertising were 947.3 million RMB ($150.7 million), a decrease of 6.7% QoQ or an increase of 58.3 percent YoY
- Revenues from e-Commerce transactions were 1,683.6 million RMB ($267.8 million), an increase of 48.5 percent QoQ
