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Tencent Increases Total Revenue, Online Advertising Sinks
May 18, 2007 |
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| Category: Internet
Chinese instant messaging company Tencent says total revenues for the first quarter ended March 31, 2007 were CNY773.1 million, an increase of 8.4% over the fourth quarter of 2006.
However the company's online advertising revenues decreased 9.1% quarter-on-quarter to CNY74.1 million and represented 9.6% of total revenues in the first quarter of 2007. The company's IVAS revenues increased 14.9% quarter-on-quarter to CNY501.8 million and represented 64.9% of the total revenues in the first quarter of 2007.
Gross profit for the first quarter of 2007 was CNY535.5 million, an increase of 11.7% quarter-on-quarter or an increase of 14.0% year-on-year. Basic earnings per share were CNY0.164 and diluted earnings per share were CNY0.158.
Tencent says it continues to strengthen its online advertising team and its relationship with leading advertisers and advertising agencies, and the company believes it can leverage its strong collection of integrated online platforms to deliver above-industry growth for the full year.
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