Tencent reported its Q4 2023 performance with a revenue of 155.196 billion yuan, up 7% from the same period the year before, and a net profit of 27.85 billion yuan. CEO Ma Huateng highlighted the company’s achievements in various products and services throughout 2023, such as increased video views on the platform, improved targeting through AI in advertising systems, and a 30% increase in revenue from games outside of China compared to total gaming revenue.
Based on the performance results, Tencent announced a 42% increase in dividend payout to $3.40 Hong Kong dollars per share and a doubling of the share buyback program from 490 billion Hong Kong dollars in 2023 to over 1 trillion Hong Kong dollars in 2024.
Revenue from VAS business (social+games) decreased by 2% to 69.1 billion yuan, with revenue from games outside of China reaching 13.9 billion yuan. PUBG Mobile saw revenue growth, while VALORANT continued to show consistent growth. The online advertising business saw a 21% revenue increase to 29.8 billion yuan due to higher demand for video advertising, and the FinTech business recorded a 15% revenue increase to 54.4 billion yuan.
Source: Tencent (pdf)
TLDR: Tencent’s Q4 2023 performance shows revenue growth, increased dividend payouts, and a strong showing in various business segments including gaming, online advertising, and FinTech. CEO Ma Huateng expresses pride in the company’s achievements and strategic advancements.
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