China’s Tencent Revenue Up 44.3% In Q2 2011

Chinese Internet company Tencent has published its unaudited financial report for the second quarter of 2011, stating that its overall operating revenue reached CNY6.739 billion, an increase of 6.3% compared with the previous quarter and an increase of 44.3% compared with the same period last year.

The report also shows that during the first half of 2011, Tencent’s operating revenue increased by 47% year-on-year to CNY13.078 billion, which is about USD2.021 billion.

Tencent said that during the second quarter ended June 30, 2011, its revenue from the Internet value-added services was CNY5.387 billion, a year-on-year increase of 50.4% and a quarter-on-quarter increase of 2.6%. Its revenue from mobile and telecom value-added services was CNY793.8 million, a year-on-year increase of 17.8% and a quarter-on-quarter increase of 2.1%.

Meanwhile, Tencent’s revenue from the Internet advertising business reached 512.3 million, accounting for 7.6% of its overall revenue. The revenue represented an increase of 82.4% over the previous quarter and an increase of 28.9% over last year.

Tencent also announced that its gross profit was CNY4.407 billion in the second quarter of 2011, a year-on-year increase of 38.3% and an increase of 6.3% over the previous quarter; its gross profit rate was 65.4%, which maintained at the same level as the previous quarter; its operating profit was CNY2.784 billion, a year-on-year increase of 17.4% and a decrease of 17.8% over the previous quarter; and its operating profit rate decreased from 53.4% in the previous quarter to 41.3%.