Tencent nets $3bn in revenue during the first three months of 2014

Tencent raked in nearly $3 billion in revenue during the first three months of 2014.

The China firm made an operating profit of $1.2 billion, an increase of 64 per cent on the previous quarter, and 54 per cent year-on-year.

Its online game revenues increased 23 per cent from the last quarter to $1.6bn. Tencent said the rise was down to its smart phone games integrated with mobile QQ and Weixin, as well as increased revenues from PC titles such as Blade & Soul.

As well as the mobile gaming business, Tencent has a number of operations in the Western PC and console market. In 2012 it bought a minority stake in Epic Games, and the firm also owns League of Legends developer Riot Games and a stake in Call of Duty publisher Activision.

The company also has a publishing deal to release free-to-play title Call of Duty: Online in China.