Tencent records 28% revenue growth during 2020


Chinese internet giant Tencent reported revenue growth of 28% year-on-year for 2020, achieving about 482 billion yuan (about $ 73.9 billion).

According to the Indian TOI website, the net profit of the company was calculated on a basis other than the International Financial Reporting Standards in order to reflect its basic profits by excluding some one-time or non-cash items, which rose by 30% year-on-year to reach about 123 billion yuan during Period, according to its financial statement.

In the fourth quarter of 2020, financial technology and business services brought in 38.5 billion yuan, nearly a third of the company’s total revenue, registering an increase of 29 percent year-on-year, according to Xinhua.

Tencent first disclosed consumption data for underage players in its financial statement, and in the fourth quarter of last year, players under the age of 18 accounted for 6% of the company’s total revenue for the company’s domestic online games, with players under the age of 16 accounting for it. Yr, accounts for 3.2% of Tencent’s total online gaming income in China.


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