Revenues and profits were up at Tencent during the last quarter, thanks in part to the performance of mobile games including Honour of Kings and PUBG Mobile.
According to the company’s fiscal report for the second quarter ended June 30, 2019, overall revenues increased by 18 percent year-on-year to $12.9 billion, while profits rose by 35 percent to $3.5 billion over the same period.
Smartphone game revenue specifically rose by 26 percent year-on-year to $3.2 billion, with Tencent attributing that upswing to the popularity of key titles like Honour of Kings, PUBG Mobile, Red Alert OL, and Perfect World Mobile.
Notably, Tencent also claimed the successful extension and implementation of season passes — such as those found in PUBG Mobile — was a “strategic highlight” within its games business, and said it now intends to bring the monetization model to other major titles.
“We are in the early stages of implementing season passes for several of our key titles, contributing to paying propensity within those games,” it explained. “Our data suggest that season pass spending is largely complementary to the existing item sales model, and also enhances player activity.”
Although the company’s mobile roster appears to be thriving, it was a slightly different story on PC, with PC client game revenue falling by 9 percent to $1.7 billion. Tencent blamed that dip on “weak seasonality.”