(Yicai Global) Nov. 12 -- Tencent Holdings’ net profit surged 89 percent in the third quarter from the same period last year to CNY38.5 billion (USD5.8 billion), as the Chinese internet titan’s gaming, video and music fee-based services saw a huge leap in subscribers.

Business revenue was up 29 percent in the three months ended Sept. 30 to CNY125.5 billion (USD19 billion), according to the company’s third-quarter earnings report released today.

Tencent’s fee-based value-added services soared 38 percent in the third quarter to CNY69.8 billion (USD10.5 billion) and accounted for 56 percent of the firm’s total revenue in that period, the report said. Its other main streams of income were its fintech and business services, which expanded 26.1 percent to CNY33.3 billion (USD5 billion), and online advertisements which jumped 16 percent to CNY21.4 billion.

The number of subscribers to the Shenzhen-based company’s gaming, video and music services surged 25 percent to 213 million as of Sept. 30, with the biggest growth in those purchasing video content which advanced by 20 percent to 120 million.

Gaming revenue leapt 45 percent to CNY41.4 billion (USD6.3 billion) between July and September, of which smart phone games accounted for CNY39.2 billion. More than 100 million people a day were playing the game Arena of Valor, now in its fifth year, on their mobile phones in the first 10 months of the year, the firm said.

Income from fintech and business services contributed 26 percent to total earnings. The number of clients on its wealth management platforms grew more than 50 percent and online payment amounts increased 30 percent.

The number of monthly active users on its social messaging app WeChat rose 5.4 percent to 1.2 billion, the report said. While the numbers of MAUs on its instant messenger QQ dropped 5.5 percent from a year earlier to 617 million.

No forecasts were given for the fourth quarter or the full year.

Tencent’s share price [HKG:0700] closed up 4.72 percent at HKD577 (USD74.41) today and has gained 54 percent so far this year.

Editor: Kim Taylor