Jingjing Ma
Mar 22, 2019

Tencent advertising revenue soars 44%

Online advertising contributed a fifth of 2018 total revenue of 312.7 billion yuan (US$46.7 billion), which rose 32%.

China internet giant Tencent Holdings saw its advertising business grow rapidly in 2018, driven by a social-media ad explosion, but economic uncertainties dampened fourth-quarter growth.

Tencent’s net income registered 77.4 billion yuan US$11.6 billion in 2018, an increase of 19% year-on-year, whereas the fourth-quarter figure dropped 32% to 14.2 billion yuan $2.1 bilion, according to the financial statement the company released on Thursday.

Online advertising revenue surged 44% to 58.1...

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