Tencent reported its Q4 2024 performance, with a revenue of 172.446 billion yuan, marking an 11% increase from the previous year. The net profit, Non-IFRS, stood at 55.312 billion yuan, reflecting a significant 30% growth.
The revenue from its gaming business in China saw a 10% rise, driven by popular games such as VALORANT, Naruto Mobile, and Fight of the Golden Spatula. International games, including PUBG MOBILE and titles from Supercell, contributed to a 9% growth.
The combined user base of WeChat and Weixin reached 1.385 billion accounts, leading to a 20% increase in revenue for the marketing and advertising segment, totaling 1.21 trillion yuan.
Tencent recently restructured its AI management team to support the rapid development of new products and focus on innovative research models. These efforts aim to enhance the current businesses in advertising, gaming, and create new value through related applications.
Source: CNBC and Tencent (pdf)
TLDR: Tencent’s Q4 2024 performance showed revenue growth of 11% and net profit increase of 30%. Gaming business in China expanded by 10%, driven by popular titles. The user base of WeChat and Weixin grew to 1.385 billion accounts, boosting revenue from marketing and advertising by 20%. Tencent focuses on AI and new product development to enhance current businesses and create new value.
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