Tencent 2017Q2 Earnings: Social advertising revenue rose 61%, half-year revenue broke 10 billion
On August 16, Tencent announced its consolidated results for the second quarter and interim of 2017. In the second quarter of 2017, total revenue was RMB56,606 million (US$8.356 billion), an increase of 59% over the same period last year. Revenue from the online advertising business increased 55% year-on-year to RMB10,148 million in the second quarter of 2017.
Social and other advertising revenue rose 61% to RMB6,071 million, accounting for 59.8% of online advertising revenue. This growth is mainly reflected in the increase in advertising revenue from WeChat (mainly WeChat Friends Circle and WeChat Public Accounts) and other mobile applications.
In terms of social and other advertising, WeChat platforms, Tencent's mobile browsers and advertising alliances make a major contribution to revenue growth. Tencent has increased its advertising resources on WeChat by reducing traffic to its public accounts to load ads and expanding its self-service advertising platform to reach first-tier cities to serve WeChat friends circle ads.
As of the second quarter of 2017, total revenue from social and other advertising in the first half of the year reached 10.45 billion yuan, exceeding 10 billion yuan.
Behind the rising revenue, Tencent's social advertising leads the industry in brand influence, business development, product development and more.
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