HONG KONG - Chinese internet giant Tencent reported Wednesday a sharp rise in first-quarter net profit after a surge in demand for its online games as the coronavirus pandemic forces people to stay home.
The Shenzhen-based company, one of the largest listed on the Hong Kong stock exchange, said net profit rose 29 percent from a year earlier to 28 billion yuan ($3.95 billion).
"During this difficult period, we seek to provide online services that keep people connected, informed, productive, and entertained," chief executive Ma Huateng said in a statement.
"So far, our businesses have proved resilient and cashflow-generative."
While many companies are being hammered by the economic fallout of the pandemic, tech firms have seen strong demand for their products.
Tencent is one of the world's largest gaming companies and the industry has benefited enormously from the billions of people around the world forced into lockdowns or restricted by social distancing rules.
Online game revenue grew by 31 percent on year to 37.2 billion yuan, Tencent said.
The company owns hugely popular titles such as "Honour of Kings", "PUBG Mobile" and "Clash of Clans".
"Peacekeeper Elite", a less violent version of "PUBG Mobile" that was released last year to comply with authoritarian China's censors, was also a major success.
Revenues from online advertising and tech products for the finance industry also held up despite the virus, increasing 32 percent and 22 percent respectively in the first quarter, though they continue to face stiff competition from Alibaba.
Tencent's shares closed down 0.32 percent on Wednesday before the results were released.
But the company has gained more than $42 billion in market value since COVID-19 broke out, Bloomberg News reported, defying a global market rout and a record Chinese economic contraction.
Agence France-Presse
The mobile version of videogame franchise "Call of Duty" racked up 100 million downloads in its first week, industry site Sensor Tower said on Tuesday, dwarfing the debuts of previous smashes including "Fortnite" and "PlayerUnknown's Battlegrounds" (PUBG).
PUBG, Fortnite and Electronic Arts' "Apex Legends" scored 26.3 million, 22.5 million and 25 million respectively in their first week of release.
"This is by far the largest mobile game launch in history in terms of the player base that's been built in the first week," said Randy Nelson, head of mobile insights at Sensor Tower.
"Call of Duty: Mobile" was launched by its publisher Activision Blizzard Inc on Oct. 1 and Sensor Tower said the numbers reflected worldwide unique downloads across Apple's App Store and Google Play in the period since.
The smash hit is a "first-person-shooter game" that allows gamers to portray elite soldiers hunting down targets in different parts of the world.
The game's console-based editions have enjoyed a loyal following but the meteoric rise of free-to-play online games have forced companies to adapt and develop their games for the smaller screen.
"Call of Duty" was developed for mobile by Chinese internet giant Tencent Holdings Ltd, which also has a stake in PUBG's Bluehole and Fortnite's Epic Games and is credited with popularizing the battle-royale format, where dozens of online players battle each other to death.
The United States was mobile edition's main draw, with 17% of the downloads in its launch week, followed by India, where PUBG has a strong foothold. Tencent is yet to launch the game in China.
Activision, which will launch the next console edition of "Call of Duty" on Oct. 25, has labeled 2019 a "transition year".
The company said in May it would cut 800 jobs and invest heavily to develop its key game franchises "Call of Duty", "Candy Crush", "Overwatch", "Warcraft", "Hearthstone" and "Diablo".
source: news.abs-cbn.com
KATHMANDU - Nepal on Thursday banned popular South Korean online game PlayerUnknown's Battlegrounds, also known as PUBG, citing its negative impact on mental health of players because of its violent content and addictive nature, officials said.
"We issued a circular Thursday to all internet service providers, mobile operators, and network service providers in Nepal to block PUBG," Sandip Adhikari, deputy director of Nepal Telecommunications Authority, told Kyodo News.
The ban comes into effect immediately.
Adhikari said NTA issued the circular after receiving a request Thursday for the same from the Central Investigation Bureau of Nepal Police.
"The game has become a headache for many parents. Children and teenagers are spending hours on end playing the game at the expense of studies and other activities," Adhikari said.
Launched in late 2017 by a South Korean video game developer, PUBG reportedly surpassed 400 million users last year.
In the game, 100 players are airdropped on an island where they battle violently for survival.
The game is popular in Nepal, although there is no clear estimate of the number of players.
So far, there are no known incidents of self-harm or violence in Nepal resulting from the game.
==Kyodo
source: news.abs-cbn.com
