Tencent said revenue for its China gaming business in the first quarter fell 2% year-on-year

, an improvement on the 3% fall seen in the fourth quarter. The company said revenue from one of is high-profiles games “Honour of Kings” declined year-on-year against a high base versus Chinese New Year, while there was “weak monetisable content” from “Peacekeeper Elite.”

International games revenue rose 3% year-on-year in the first quarter, better than the 1% increase seen in the previous quarter. Tencent said the growth was thanks to a rise in players of PUBG Mobile and a resurgence in popularity of games from its studio Supercell.

Still, the growth in Tencent’s gaming division remains weak.

“During the first quarter of 2024, several of our leading games in China and internationally started to benefit from team reorganisations we put in place, resulting in an increase in games gross receipts and creating a foundation for our games revenue to resume growth in future quarters,” Tencent said in its earnings release.