(BEIJING) – Tencent today announced its Q1 financial results ended in March 31, 2019. The China’s Internet giant saw its total revenue reached RMB 85.47 billion (US$ 12.43), up 16% yoy, but lower than analysts’ expectation of $19.4 billion (US$ 2.82 billion).
Additionally, Tencent’s net profit reached RMB 27.21 billion (US$ 3.96 billion), up 17% yoy.
Non-GAAP profit attributable to equity holders of the Company was RMB 20.93 billion (US$ 3.04 billion)
Smart phone games revenues reached RMB 21.2 billion (US$ 3.08 billion), down 2% yoy but up 11% month-on-month.
FinTech and Business Services revenues were RMB21.8 billion, up 44% year-on-year and mainly driven by commercial payment, micro-loan products and cloud business.