Company Earnings Update 4 minutesRegister for Free AccessTencent (0700.HK) 3Q17 Results: Strong Beat Driven by Gaming and Online Advertising Coresight Research November 17, 2017 Executive Summary Tencent reported 3Q17 revenues of ¥65.2 billion, up 61% year over year, and beat the consensus estimate of ¥61.0 billion. Non-GAAP diluted EPS was ¥1.79, an increase of 45% year over year. The solid results were driven largely by gaming and online advertising. Value-added services (VAS) revenues, which accounted for 65% of total revenues, increased by 50.6% year over year, driven mainly by strong revenue growth in both PC and smartphone games. Online advertising revenues were up 48.2% year over year, thanks to strong growth from mobile media platforms such as Tencent Video and higher advertising revenues derived from Weixin. Other revenues surged 142.6% year over year, driven by mobile payment and cloud services. Management emphasized how its new initiative “AI in all” can help improve its existing business. FGRT views this better-than-expected result as positive, and expects this momentum to continue driving Tencent’s growth. Tencent’s new strategy of investing in mobile payment, cloud services and artificial intelligence (AI) should enable it to strengthen its market-leading position in these areas. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: December 2022 China Retail Sales: Sales Flat Year over YearData Dive: How US Consumers Spent in 2022—and Why Services Are Yet To Fully Bounce BackJune 2024 US Retail Sales Outlook: Projecting Further Retail Resilience in the Second Half of 2024US Subscription E-Commerce: Flexibility and Personalization Can Help Companies Navigate Challenges Amid a Softened Market