Chinese internet and mobile company QQ saw total revenues increase by 68% Y-o-Y in Q1 2010

"Highlights of the first quarter of 2010:
- Total revenues were RMB4,226.1 million (USD619.1 million1), an increase of 14.6% over the fourth quarter of 2009 (“QoQ”) or an increase of 68.7% over the first quarter of 2009 (“YoY”)
- Revenues from Internet value-added services (“IVAS”) were RMB3,387.4 million (USD496.2 million), an increase of 19.0% QoQ or an increase of 77.9% YoY
- Revenues from mobile & telecommunications value-added services (“MVAS”) were RMB618.2 million (USD90.6 million), an increase of 12.4% QoQ or an increase of 40.7% YoY
- Revenues from online advertising were RMB204.3 million (USD29.9 million), a decrease of 26.8% QoQ or an increase of 39.4% YoY
- Gross profit was RMB2,897.7 million (USD424.5 million), an increase of 13.9% QoQ or an increase of 68.6% YoY. Gross margin decreased to 68.6% from 69.0% last quarter
- Operating profit was RMB2,148.4 million (USD314.7 million), an increase of 20.9% QoQ or an increase of 84.5% YoY. Operating margin increased to 50.8% from 48.2% last quarter
- Profit for the period was RMB1,802.4 million (USD264.0 million), an increase of 17.6% QoQ or an increase of 71.1% YoY. Net margin increased to 42.7% from 41.6% last quarter
- Profit attributable to equity holders of the Company was RMB1,783.2 million (USD261.2 million), an increase of 18.3% QoQ or an increase of 72.2% YoY
- Key platform statistics:
- Active Instant Messaging (“IM”) user accounts increased 8.7% QoQ to 568.6 million
- Peak simultaneous online user accounts for IM services increased 13.2% QoQ to 105.3 million
- Active user accounts of Qzone increased 10.4% QoQ to 428.0 million
- Peak simultaneous online user accounts of QQ Game portal (for mini casual games only) increased 9.7% QoQ to 6.8 million
- IVAS paying subscriptions increased 16.1% QoQ to 59.9 million
- MVAS paying subscriptions increased 14.8% QoQ to 23.3 million"
Source: Press release from Tencent Holdings Limited, 12th May 2010