Tencent's annual revenue 2008-2019

The Chinese internet services giant Tencent, one of the leading internet companies in the world, reported a total annual revenue of nearly 377 billion yuan in 2019, an increase by 20 percent compared to the previous year.

Tencent Holdings Limited

     Founded in 1998, today Tencent is the largest listed internet company in China based on market valuation, surpassing Alibaba Group for the first time. The company’s first product was a free PC-based messaging platform OICQ, later renamed as QQ. The release of other internet service products followed once QQ became profitable in 2001. Ten years later, WeChat, the country’s most popular mobile app, was born. With over one billion monthly active users, WeChat is an everyday necessity for many; it’s used for messaging, calling, video and photo sharing, mobile payments, shopping, dating, hotel bookings, loans, taxi hailing – literally any online daily activity.
Though best known for WeChat, video games are what has been generating most of Tencent’s revenue and profits. It is the largest online gaming company worldwide.

What’s behind Tencent’s revenue numbers?

     The tech firm generated a majority of its revenue from online games. While the total revenues have been growing, albeit slower than usual, the online game revenues showed a dramatic stagnation in the last quarter of 2018. The company described the situation as “stable”, however, the media called 2018 “a brutal year” for Tencent. The reason for the sluggish online gaming revenues was a nine-month long game licensing freeze from China’s State Administration of Press and Publications. That said, licensing approvals have been resumed in early 2019, and Tencent might expect accelerating revenue growth once again.

Annual revenue of Tencent Holdings from 2008 to 2019

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Source

Release date

March 2020

Region

China

Survey time period

2008 to 2019

Supplementary notes

Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of March 2020).

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