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. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Innovator Profile: Devour—Transforming Food Delivery into an Engaging Gaming ExperienceShoptalk Europe 2023 Startup Pitch Competition: Recap—10 Innovators, Two WinnersSecondhand Chic: US Fashion Resale Market Growth Driven by Vintage and Luxury Demand; Signs of ProfitabilityResearch Preview: The Future of Malls