Chinese Internet giant Tencent recently announced that the company’s total revenue reached 18.4 billion ($2.99 billion) in first quarter of 2014 ended March 31, an increase of 8% QOQ or an increase of 36% YOY.

Of the total amount, VAS revenues increased 21% QOQ to 14. 41 billion yuan, representing 78% of the total revenues for the reporting period.

The revenue from online games surged 23% QOQ to RMB10.39 billion yuan ($1.68bn) in Q1, mainly driven by increased revenues from smart phone games integrated with Mobile QQ and WeChat. The paying user base for Tencent’s mobile games more than doubled, and total revenues approximately tripled to over 1.8 billion yuan during the period. For PC client games, new titles such as Blade & Soul made significant revenue contribution.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.