Tencent Releases Fourth Quarter And Full-year Financial Report For 2023

According to the financial report, Tencent's revenue in the quarter reached 155.196 billion yuan, a year-on-year increase of 7%. As one of the company's core business segments, Tencent's gaming business achieved revenue of 179.9 billion yuan in 2023, a year-on-year increase of 5.4%.

Image via EqualOcean

Among them, the proportion of international market revenue in total revenue increased to 30% for the first time, and the annual revenue reached 53.2 billion yuan.

The financial report also shows that in 2023, games such as "PUBG MOBILE", "VALORANT", and "GODDESS OF VICTORY: NIKKE" performed well. Despite the impact of the decline in player activity after the epidemic, the total revenue of "PUBG MOBILE" as of December 2023 is close to US$4.5 billion, and the revenue in the second half of 2023 alone is close to US$500 million. In the two-dimensional field, "GODDESS OF VICTORY: NIKKE" has achieved remarkable results in overseas markets such as Japan with its innovative two-dimensional shooting RPG + vertical screen gameplay. It achieved global sales of 719 million yuan within one month of its launch. As of March 10, 2024, the cumulative revenue of the mobile terminal of this game is approximately 3.79 billion yuan.

Tencent (TCEHY) has established a huge studio ecosystem in overseas markets through acquisitions and equity participation and continues to exert influence. For example, "Alan Wake II" received eight TGA nominations last year, "FromSoftware" won the Best Action Game Award, and "League of Legends" and "Valorant" won all e-sports awards. The companies behind these games All are promoted by Tencent's capital.

Tencent's performance in overseas markets fully proves that its long-term "self-research + distribution + investment" business model has entered a stable harvest period. After achieving breakthroughs in multiple regional markets such as Europe, the United States, Japan, South Korea, and the Middle East, the company is accelerating the globalization plan of more game products and accelerating the pace of globalization of the game business. Recently, the overseas server of "Honor of Kings" has been officially launched in 57 countries and regions, including the Middle East, North Africa, Turkey and South Asia. On the first day of its launch, it topped the download charts in many countries and regions. Many places have entered the top ten or even the top three on the free list. At the same time, "Honor of Kings" also announced its cooperation with the E-sports World Cup (EWC). This also marks that Tencent Games is simultaneously promoting the internationalization of events and products.


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