Revenues of CNY67.686m ($10.207m) for H1 2016, up 48% from the previous year, boosted Tencent's share price by 5%, allowing it to overtake rival Alibaba for the first time, according to Seeking Alpha. Tencent's investment in mobile game studio Supercell and integration of QQ Music with China Music Corporation were cited as Q2 major highlights of two, while its YoY figures were all positive. Value-added services business revenue rose by 39%, while performance-based advertising grew by 80%, and revenue from other businesses increased 275%.
Revenues of CNY67.686m ($10.207m) for H1 2016, up 48% from the previous year, boosted Tencent's share price by 5%, allowing it to overtake rival Alibaba for the first time, according to Seeking Alpha. Tencent's investment in mobile game studio Supercell and integration of QQ Music with China Music Corporation were cited as two major highlights of Q2, while its YoY figures were all positive. Value-added services business revenue rose by 39%, while performance-based advertising grew by 80%, and revenue from other businesses increased 275%.