Gaming boom helps boost Tencent revenue 29% in Q3

Tencent Holdings Ltd on Thursday reported revenue surged 29 percent for the third quarter, buoyed by the continuing gaming boom.

Sales rose to 125.45 billion yuan ($18.9 billion) in the three months that ended in September, with Tencent's online game business jumping 45 percent year-on-year to 41.4 billion yuan.

Net income skyrocketed 89 percent from the same period last year to hit 38.5 billion yuan.

For smart phone games, the company said average daily active users for its blockbuster Honor of Kings title exceeded 100 million for the first 10 months of this year.

Revenues from its fintech and business services increased by 24 percent to 33.3 billion yuan for the third quarter of 2020 on a year-on-year basis.