Tencent's gaming businesses brought $27 billion in 2021 which represents 31% of the company's total revenue.
Moonlight Blade Mobile
Chinese tech giant Tencent has revealed its full-year financial results reporting that its gaming revenue reached a record-high RMB 174.3 billion ($27 billion) in 2021. The figure represents 31% of the company's total revenue which amounted to RMB 560.1 billion ($87.9 billion) reflecting a 16% year-on-year increase.
Most of Tencent's gaming revenue was generated by the domestic games market which accounted for 23% of total revenue, or RMB 128.8 billion ($20.2 billion), while international games brought the company 8% of its total revenue, or RMB 45.5 billion ($7.1 billion). Despite the relatively small share, the overseas games showed excellent growth increasing by 31% compared to the previous year.
The company reports an operating profit of RMB 159.5 billion ($25 billion) reflecting a 7% year-on-year increase, while the annual profit remained relatively steady (growing just 1%) and amounted to RMB 127.9 billion ($20.1 billion).
League of Legends: Wild Rift
In addition to good earnings from League of Legends: Wild Rift and Battle of Golden Spatula, Tencent noted that Honor of Kings was the company's main source of income in its games division. The titles' financial success partly offset declines in revenue from Moonlight Blade Mobile and Peacekeeper Elite (the Chinese version of PUBG Mobile).
"2021 was a challenging year, in which we adopted changes and implemented certain measures that reinforced the company’s long-term sustainability, but had the effect of slowing our revenue growth," Tencent's president and CEO, Ma Huateng, shared. "Despite financial headwinds, we continue to make strategic progress, including widespread adoption of our enterprise software and productivity tools, increasing content creation and consumption across our video accounts, and expanding our international gaming business."