But that revenue total came in under analyst expectations largely due to a shortcoming in the company’s advertising business.
Tencent is beginning to feel pressure from competitor ByteDance even as Tencent’s ad revenue jumped 23% year-over-year.
But the most interesting blip on the Chinese megacorporation’s report is that its PC gaming revenue.
The company is seemingly still feeling the effects of the Chinese government’s freeze on new-game approvals that lasted from March 2018 into the early months of 2019.
In Q2, however, Tencent launched 10 new games.
One of the company’s bigger games is the new League of Legends autochess spinoff Teamfight Tactics.