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On May 18, Tencent released its financial report for the first quarter of 2022. According to the financial report, the company’s revenue in the first quarter was about 135.5 billion yuan, flat year-on-year; net profit was about 23.4 billion yuan, down 51% year-on-year, not under the International Financial Reporting Standards; net profit was about 25.5 billion yuan, down 23% year-on-year.
In the game business segment, Tencent’s game revenue reached 43.6 billion yuan, of which the international market game revenue was 10.6 billion yuan, a year-on-year increase of 4%; the local market revenue was 33 billion yuan, a year-on-year decrease of 1%.
According to the financial report, Tencent’s domestic game market revenue fell by 1% in the first quarter to 33 billion yuan.
Affected by the suspension of the version number starting in August last year, Tencent did not have any new products launched in China in the first quarter. In April this year, the version number was resumed, which is expected to bring new market vitality; and with the rapid development of the domestic game industry , the user dividend in the domestic market has gradually peaked, and it has entered the era of “slow growth”, and it is more common for market revenue growth to slow down or slightly decline.
At the product level, “Honor of Kings” is the mobile game with the first daily active account in the domestic market, followed by “Peace Elite”. The SLG product “Return to the Empire”, launched in March this year, achieved the second best result in domestic products of the same category in April.
The “League of Legends Mobile Games” and “Battle of the Golden Shovel” launched in the current financial report quarter performed well. Both games are regulars at the top of the iOS bestseller list. “Battle of the Golden Shovel” is basically stable in domestic iOS best-selling. Top ten.
However, the new tour is strong, and the old tour is slightly weak. The earnings statement shows that the revenue growth from recently launched games such as “League of Legends Mobile” and “Golden Shovel” was mostly offset by the decline in revenue from games such as “The End of the World” and “Call of Duty Mobile”. , and these two games were regarded as the main contributors to last year’s revenue growth in Tencent’s annual financial report in 2021.
In the international game market, Tencent’s game revenue in the first quarter of 2022 increased by 4% year-on-year to 10.6 billion yuan, down 20% month-on-month. base. But in fact, the game industry is cyclical, and the year-on-year data is more meaningful.
At the international product level, the financial report shows that the outstanding performance of games such as “VALORANT” and “Clash of Clans” overseas has driven revenue growth. Among them, “VALORANT” has performed strongly, with an increase in overseas user base and increased willingness to pay. Revenue growth was offset by lower revenue from PUBG Mobile. In last year’s annual report, it was also mentioned that “Peace Elite”‘s domestic revenue has also decreased.
In addition, “Apex Mobile Games” jointly developed by Tencent Photonics Studio Group and Rebirth Studio was officially launched overseas on May 17. Previously, the official website pre-registered players had exceeded 16 million, or it will become another Tencent overseas market. Blockbuster product.
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