Tencent owes its Q1 boost to the surge in gaming during the lockdown
Posted On May 15, 2020
Tencent revealed its better-than-expected revenue on Wednesday for the first quarter of the year with an increase of 26% compared with the same period of time last year, totalling RMB 108 billion (around $15.2 billion). The growth is attributed to a surge in homestay entertainment activities as people were forced to stay indoors – its gaming sector saw a 31% rise to RMB 37.3 billion. However, the company is not expecting the fortune to last long as China is gradually normalizing and people returning to work.