As of September 30, VNG Joint Stock Company (VNG: Upcom) has just announced its financial report for the third quarter of 2024 with positive figures: nine-month cumulative revenue reached VND6,892 billion, and profit from business activities after adjustments reached VND424 billion, a significant growth compared to a loss of VND123 billion in the same period last year.

Accordingly, in the first nine months of 2024, all core segments of VNG recorded growth. Specifically, Zalo reported good results from value-added services; Zalopay continuously expanded its platform scale; VNG Digital Business (VNG DB) achieved positive growth in revenue from enterprise customers, and revenue from international markets continued to increase, despite a slight decrease in revenue from the online gaming segment.

In particular, the total bookings for the online gaming segment reached VND5,606 billion, a slight decrease compared to the same period last year. Of this, 26% of bookings came from international markets. This segment also recorded a quarterly active user base (QAU) of over 77 million people.

Zalo recorded 77.6 million monthly active users (MAU), a 3% increase compared to the same period, and nearly 1.97 billion messages sent per day, growing in both users and revenue from services.

Zalopay grew by 38% in total payment volume, and revenue from financial services increased by 196% compared to the first nine months of 2023.

VNG DB recorded a 58% revenue growth compared to the same period in 2023, with revenue from the global market increasing by 14 times and accounting for 38% of total revenue.

By the end of September 2024, VNG’s total contributions to the state budget reached over VND700 billion.

Additionally, VNG continues to focus on strategic initiatives such as AI, collaborations with reputable domestic and international partners, and pursuing technology development goals to bring value to Vietnamese users and ensure social responsibility.

Financial Report as of Q3 2024

The AI Artian graphics platform, developed by the VNGGames team in its 2.0 version, helps reduce the time for generating image ideas by 30%, cuts down model illustration time by 50%, and enables the creation of video trailers in just a few minutes. Notably, VNGGames has consecutively collaborated with leading names in the global gaming industry, such as NCSOFT (South Korea) and Riot Games, to execute plans for League of Legends (LOL) eSports in 2025, among other strategic partnerships.

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