Despite rumors of a poor financial performance, China's Tencent announced quarterly sales and profits that handily beat analyst expectations, and much of that revenue came from its participation in the mobile development industry. The company had revenues of 73.53 billion yuan ($11.5 billion), which yielded net earnings of 23.29 billion yuan ($3.7 billion).
Tencent's mobile games, including Player Unknown Battlegrounds (PUBG), Fortnite, Honour of Kings and QQ Speed Mobile, generated 21.7 billion yuan ($3.4 billion) in sales for the quarter. That was a 68 percent year-over-year increase.
The company's PC games division brought in 14.1 billion yuan ($2.2 billion), about the same as last year.