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Tencent’s profit jumps 47% in Q3
Tencent Holdings saw a 47% profit increase in the third quarter, reaching 53.23 billion yuan (US$7.37 billion) and exceeding market forecasts.
Revenue increased by 8% year-on-year to 167.19 billion yuan (US$23.41 billion), slightly below analyst expectations of 167.82 billion yuan (US$23.5 billion).
Gaming, a crucial segment for Tencent, reported a 14% domestic revenue rise, totaling 37.3 billion yuan (US$5.22 billion).
International gaming revenue increased by 11% on a constant currency basis, amounting to 14.5 billion yuan (US$2.03 billion).
Marketing services revenue, including online advertising, grew by 17% to 29.99 billion yuan (US$4.2 billion).
Recent Tencent developments
| Timeline |
|---|
13-Nov-2024 🎶 Tencent Music’s revenue misses expectations despite gains
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07-Nov-2024 💳 Tencent, Visa launch palm recognition for e-payments in SG
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05-Nov-2024 🔗 Tencent, Bosch deepen partnership for smarter EV tech
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30-Oct-2024 💰 Tencent-backed Airwallex targets $6b valuation
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| 16-Oct-2024 🩺 Tencent invests $30m in HK early cancer detection firm |
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