The Chinese internet giant up year-on-year in a quarter with heavy UK investment
Tencent has posted big profits following the release of the companies' financials for Q2 2017. The Chinese internet giant posted a revenue of $8.56 billion for Q2, which is up 59 per cent year-on-year and a profit of $2.69 billion.
The majority of this income has come from Honor of Kings, a mobile game that has recently launched in Europe following restrictions from the Chinese government. They believed the game could be harmful to minors due to the amount of hours they could play, which has now been legally limited.
"During the second quarter of 2017, we delivered strong revenue growth from multiple businesses, which enabled us to reinvest in innovations and new technologies in an increasingly competitive industry," said Tencent CEO and chairman, Ma Huateng, in a press release.
"While our games business continued to grow, we have stepped up our effort to ensure users play games in a healthy manner. We have also been increasing our investment in cloud services and AI technologies, which will enable us to serve our users and business partners even better into the future."
The company has been spending money in the UK recently following an investment in Liverpool's Milky Tea Studios and buying shares in Cambridge-based Frontier Developments. There were recent reports that the company had invested in Korean-based Bluehole Studios, who develop PlayerUnknown's Battlegrounds, which were debunked by the company earlier this week. To help relations and international partnerships, the company recently hired former Sega Europe COO, Jurgen Post.