Asia Tech Wire (Aug 14) -- Chinese tech giant Tencent (0700.HK) on Wednesday reported an 8% increase in revenue for the second quarter of 2024.

For the three months ended June 30, 2024, Tencent achieved revenue of 161.12 billion yuan, up 8% year-on-year, versus an estimated 161.35 billion yuan.

Tencent realized growth in local and overseas game revenues in the second quarter, mainly due to revenue growth from Valorant and the successful launch of Dungeon & Fighter: Origin, as well as the strong performance of PUBG Mobile and the increased game popularity of Supercell.

The latest financial report showed that Tencent's game revenues in the second quarter in the local and international markets amounted to 34.6 billion yuan and 13.9 billion yuan, respectively, both of which increased by 9%.

In addition, Tencent noted that two popular mobile games, Honor of Kings and Game For Peace, continued their recovery momentum and resumed year-on-year growth in game flow in the second quarter.

Tencent also reported that revenue from its online advertising business grew 19% year-on-year to 29.9 billion yuan in the quarter, driven by revenue growth from WeChat Channels and long-form video.