Tencent's business strength emerges in its second quarter financial results

Aug 18, 2020 Tencent

On August 12, Tencent released its second quarter financial results. According to the data disclosed in the financial report, Tencent's revenue in the second quarter of 2020 was 114.883 billion yuan, up 29% year-on-year, and net profit was 30.153 billion yuan, up 28% year-on-year, both exceeding market expectations.

It should be noted that in the first quarter, Tencent's game business has made good gains in the "stay-at-home economy". However, with the social resumption of work and production gradually picking up speed, the "stay-at-home economy" no longer occupies a dominant position in people's life. In this context, Tencent released its second financial report. Therefore, when all the people's lives back to normal, what is the driving force that supports Tencent's sustained growth in the second quarter?

From the financial report, the answer is not hard to find:

• In the second quarter of 2020, Tencent's value-added services business generated revenue of 65.002 billion yuan, up 35% year-on-year.

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