Tencent has released its financial report for the third quarter ended September 30, 2024. Here are the key takeaways about the Chinese tech giant’s video game business.
Delta Force
- According to its Q3 earnings release, Tencent reached 167.2 billion yuan ($23.9 billion) in revenue, up 8% compared to the same period last year.
- Growth profit was 88.8 billion, up 16% year-over-year. Profit attributable to equity holders grew 47% to 53.2 billion ($7.6 billion). According to Bloomberg, this is above the projected net income of 45.3 billion yuan ($6.28 billion).
- The International Games segment generated 14.5 billion yuan ($2 billion), up 9% year-over-year. Tencent cited “robust performances” from titles like PUBG Mobile and Brawl Stars.
- Revenue from the global version of Valorant increased by over 30% year-over-year thanks to its console launch on PlayStation and Xbox.
- The Domestic Games segment reached 37.3 billion yuan ($5.17 billion) in revenue, up 14% year-over-year. The main drivers were Honor of Kings and Peacekeeper Elite (Chinese version of PUBG), which saw “healthy year-on-year growth” in gross revenue, as well as DnF Mobile and Valorant.
- In Q3, Naruto Mobile surpassed 10 million daily active users (DAU) for the first time, with its gross revenue growing “robustly” year-over-year. The Chinese version of Valorant also set new records for average DAU and gross receipts.
- Delta Force Mobile, launched in China on September 26, has already achieved several million DAU and “good average user daily time spent and player retention rates.” It also surpassed 25 million registered users last month.
- Tencent sees an evergreen potential in the game, which will be released globally on PC and consoles next month.