China's Tencent Reports Another Billion Dollar Quarter

Chinese internet and mobile game maker and League of Legend developer Riot Games' parent company Tencent has reported its second billion-dollar quarter in a row. For its fiscal third quarter ending September 30, the company -- which provides several internet services and online platforms, among them online games -- reported total revenues of 7.5 billion Chinese yuan (approximately $1.18 billion), an increase of 11.2 percent over its prior quarter. The bulk of the revenue came from its online games, which brought in 4.15 billion yuan ($654.4 million), around 55 percent of its total sales, itself a 14 percent increase from the prior quarter. The company said these revenues reflected the growth of several of its online titles, including Cross Fire, QQ Dancer, Dungeon and Fighter, QQ Game and QQ Speed, as well as the Chinese localized version of League of Legends. One milestone that the company noted in its results: its QQ Game service -- which it describes as providing "mini casual games" -- saw a peak simultaneous online player number of 8 million during the period, an increase of 25 percent versus the same period one year ago. Tencent is the video game revenue leader in China, one of the fastest-growing regions for video game sales. The company commanded 29.5 percent of the country's $1.35 billion Q2.