Date: March 25, 2021

(Photo from Baidu)

March 24, 2021 - Tencent Holdings Limited, a leading Internet value-added service provider in China, announced its unaudited consolidated results for the fourth quarter of 2020 and audited consolidated results for the year ended December 31.

In the fourth quarter of 2020, value-added services (VAS) revenue increased 28% year-on-year to RMB 67 billion. Online game revenue rose 29 percent to 39.1 billion yuan, including 9.8 billion yuan from international games, up 43 percent year on year. This growth mainly reflects the revenue contribution of our smartphone games, including Peacekeeping Elite, King of Glory, Jedi Kill, and the recent launch of Moonblade. Total smartphone gaming revenue, including smartphone gaming revenue from social networking, was Rmb36.7bn.

Online advertising revenue rose 22 per cent to Rmb24.7bn in the fourth quarter of 2020, driven by increased demand in advertiser categories such as education, ecommerce platforms and FMCG, as well as consolidation of BitAuto's AD revenue. Social and other advertising revenue rose 25 per cent to Rmb20.4bn. The increase mainly reflected more demand from advertisers for WeChat, with media advertising revenue up 8 per cent to Rmb4.3bn.

Fintech and business services revenue rose 29 per cent to Rmb38.5bn in the fourth quarter. The increase was mainly due to revenue growth in commercial payments and wealth management services, which was due to increased transaction volume and value per transaction.

Source: Tencent's official website