- Tencent declined to comment on the lawsuit, pointing to past remarks the company has made about its WeChat operations, including that Tencent “operates in a complex regulatory environment, both.
- WeCom users can then message, create chat groups, and even receive virtual money from WeChat friends without their WeChat contacts having to download WeCom. Tencent told Chinese media WeCom is a.
Tencent Holdings released its fourth quarter 2018 and full-year 2018 financial results in the early morning of March 21 and attempted to calm investors after its largest quarterly profit drop in 13 years.
Group video chat supports up to 20 people at a time; 100+ Apps to enhance user experience; Online and offline file transmission; Send folders directly; no need to compress or zip folders; Facts about Tencent. Tencent is the largest Internet Company in China and 4 th largest in the world by market cap, after Google, Amazon and Facebook. Founded in 1998, Tencent got its start with its OICQ messenger, which was later renamed to QQ due to rumors of possible legal action from fellow chat app dev ICQ (remember freaking ICQ?).
The company was significantly affected by the Chinese government’s freeze on new mobile game approvals, which ended in December after nine months. Since the company could not benefit from new mobile games over the second half of 2018, it relied primarily on revenues from already-existing games and other sources.
Tencent noted that it increased revenue by adding services to popular games, and said it has a positive outlook for new game approvals over 2019. It has also sought to offset the regulations in China by partnering with overseas game developers to grow its games globally. Despite the regulatory freeze, the company saw mobile game revenue increase of 24 percent year-on-year in 2018, although only by 12 percent in Q4.
But the good news is that Tencent increased its online advertising revenue by 38 percent year-on-year in the fourth quarter, that’s an increase of 44 percent from the previous year (including social media advertising and other ad revenue). The rise was mostly driven by WeChat Moments ads, mini-programs, and QQ KanDian, and continued the trend from the previous quarter. The company also saw media advertising revenue rise due to the popularity of Tencent Video and News.
The company said in its earnings release, “On average, over 750 million Weixin [WeChat] users read friends’ posts on Moments per day.” This indicates that there’s now a growing opportunity for brands to advertise within WeChat Moments. Since Tencent began running their second Moments ad, only 50 percent of daily users have been reached, so there’s still room to grow this segment. Meanwhile, daily active users of mini-programs grew 54 percent year-on-year in 2018.
Tencent also made significant strides with WeChat Pay and transactions through its ecosystem. In particular, it has expanded services for travelers abroad, including the ability to purchase flights through its mobile payment system.
Tencent Wechat Ban
Revenue jumped 32 percent year-on-year to $45.56 billion (RMB 312.7 billion) in 2018, with net profit up 19 percent $11.47 billion (RMB 78.7 billion). However, the company’s profit margin decreased to 26 percent from 30 percent a year earlier.
For the fourth quarter, Tencent reported revenue of $12.37 billion (RMB 84.9 billion), an increase of 28 percent from the same period in 2017. The revenue was just below consensus estimates for the quarter. Net profit in the quarter missed analysts’ expectations, falling 32 percent year-on-year to $2.07 billion (RMB 14.23 billion). The decline was attributed to higher investment costs for both content and technology during the quarter. But it’s those expenses that helped to diversify the tech giant and may protect it from future potentially harmful government regulations.
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Ever wondered how it like was to be at the headquarters of the biggest technology company in China? Well the Chat Chat team had the honor to be invited to Tencent’s HQ which is located in Shenzhen for a high-level sharing session about WeChat’s latest updates and international advertising solutions by the Tencent representatives.
After 2 hours of driving from Hong Kong, we found ourselves standing at the home of WeChat. Immediately after stepping into the main building lobby, we were greeted by a metal QQ penguin sculpture. Interestingly, the sculpture was shaped by names of QQ users who were online at that particular moment in time (11th April 2014 at 9.11pm). Over 200 million users chatting online on a Friday night at 9pm is really impressive!
The vibes of being a Tech Titan can be felt from the lasting impression that we all have with the building façade. The blue tinted stairway leading up to the next level portrays a sense of professionalism and leadership, showing the qualities of what Tencent aims to be with their strong range of innovative products.
Not letting the cute penguin distract us further of our agenda, we got our passes from the main reception and hurried up excitedly to the working quarters of where the WeChat magic happens. We met up with two Tencent representatives who then led us into the boardroom and started sharing about WeChat and the capabilities of what WeChat has to offer on the international level for markets out of China
A quick introduction about WeChat already had us in awe with the numbers.
FUN FACT #1: Official Accounts alone generates up to 30 billion page views per day globally!
The topic of international advertising solutions offered by WeChat intrigued us further into trying to understand the vast possibilities and opportunities on a global level.
FUN FACT #2: The number of WeChat active users globally have already surpassed 1 billion!
After the presentation about WeChat and office tour by the Tencent representatives, we were ushered to the official Tencent souvenir store and café, just located adjacent to the main lobby. We were in plushie land! There were so many interesting souvenirs representing the various aspects of Tencent. One prominent one being the QQ penguin. The team couldn’t help but to buy some penguins back as little companions.
The trip to Tencent was indeed a fruitful and collaborative one for the Chat Chat team. The value-added exchanges of information about WeChat between Tencent and Chat Chat created the baseline to set the team up for success. A journey that we hope to be able to share with everyone.
Tencent Qq Chat
Till next time~
Chattlers signing off..