Viet Son Net

Internet, wireless and online game company Tencent (0700.HK) booked net income of RMB 1.51 billion in the final quarter of 2009, up 73.5% year-on-year and 6.2% quarter-on-quarter, the company reported March 17. Revenues increased by 9.5% sequentially to RMB 3.69 billion in the quarter, the report said. Of the total, internet value-added services, including online games, generated revenues of RMB 2.85 billion, up 92.6% annually and 8.6% sequentially. The company noted stable revenues from the online gaming business on a quarterly basis due to strong performances of the games DNF and Cross Fire partially offset by declining revenues from more mature MMORPGs.

Mobile value-added services revenues increased 37.5% year-on-year and 23.3% quarter-on-quarter to RMB 549.9 million, mainly driven by the growth in revenues from Tencent’s bundled SMS packages but also reflecting growth in mobile gaming revenues, the report said.

Online advertising revenues were RMB 279.0 million, up 33.1% annually, but down 5% against the prior quarter, the report said.

As of December 31, 2009, Tencent’s QQ IM platform recorded 93 million peak concurrent users in the quarter, up 23.2% sequentially, driven primarily by growing popularity of the company’s social networking service (SNS), the report said. The number of active QQ accounts increased 7.8% from last quarter to 522.9 million.

For the full year, Tencent booked profits of RMB 5.16 billion, up 85.2% year-on-year, and revenues of RMB 12.44 billion, up by 73.9% year-on-year.