In the third quarter of 2024, Tencent reported a total revenue increase of 8% from the same period in the previous year, reaching 1.67 trillion yuan. The net profit according to IFRS standards also saw a significant rise of 47% to 532 billion yuan.
The gaming sector remains a standout in Tencent’s business, with a 14% revenue growth in China, driven by popular titles such as Honour of Kings, Peacekeeper Elite, VALORANT, and DnF Mobile. Meanwhile, international gaming revenue increased by 9% fueled by games like PUBG MOBILE and Brawl Stars.
The video subscription service saw a surge in membership, adding 116 million accounts. Popular series like She And Her Girls contributed to a 17% increase in online marketing revenue. Additionally, platforms like WeChat and Weixin amassed a total of 1.382 billion users.
Source: Tencent (pdf)
TLDR: Tencent’s Q3 2024 results show a notable revenue and profit increase, fueled by growth in the gaming industry, video subscriptions, and online marketing endeavors.
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