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Honor of Kings publisher earns $600mill more than rival Genshin Impact

Turns out that publisher Tencent is miles ahead of its competition, according to financial reports covering the first month of 2025.

Key art of characters from Honor of Kings holding weapons

The mobile market is absolutely booming, and there’s one company that’s leading the way with a gigantic profit. A recent report from AppMagic shows that Tencent remains on top, and is absolutely miles ahead of other publishers in the mobile game market.

It turns out that Tencent earned over $600 million in January alone, with the next highest-earning publisher being Netease with a measly $148 million. For some more context, Hoyoverse (operating as Cognosphere) earned $132 million, and Scopely of Monopoly Go fame gained around $137 million in the same month.

Tencent, if you’re not sure of what the company is, is the publisher behind notable free mobile games PUBG Mobile and Honor of Kings, along with Arena Breakout, the upcoming Assassin’s Creed Jade, and Goddess of Victory: Nikke.

Honor of Kings and PUBG Mobile, according to AppMagic, both earned the company over $100 million each, with Honor of Kings being the top-grossing mobile game worldwide. PUBG Mobile moved up a few spots from previous months, too.

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Looking at key competitors in the same list, Genshin Impact is number ten, and Coin Master is at nine, both raking in over $50 million in the month. Pokémon TCG Pocket takes the 11th slot, though its figure may change now that the Space-Time Smackdown Pokémon TCG Pocket cards are out.

If you play PUBG Mobile or any of the big gacha games, you may be interested in our guides to the best gaming phones and best budget gaming phones with enough space to download a new title.