Tencent Q1 revenue rises 13% on AI, gaming boost

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Tencent Holdings, China’s biggest technology company by market capitalisation, posted a 13% rise in first-quarter revenue on Wednesday, boosted by growth in gaming and AI-enhanced advertising.

Tencent, also the world’s largest video game company and operator of the WeChat messaging platform, reported revenue of 180 billion yuan ($24.97 billion) for the quarter ended March 31.

The results exceeded the 174.6 billion yuan average estimate from analysts polled by LSEG.

Net profit for the quarter was 47.8 billion yuan, compared with analyst expectations…



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Tencent Q1 revenue rises 13% on AI, gaming boost


Tencent Holdings, China’s biggest technology company by market capitalisation, posted a 13% rise in first-quarter revenue on Wednesday, boosted by growth in gaming and AI-enhanced advertising.

Tencent, also the world’s largest video game company and operator of the WeChat messaging platform, reported revenue of 180 billion yuan ($24.97 billion) for the quarter ended March 31.

The results exceeded the 174.6 billion yuan average estimate from analysts polled by LSEG.

Net profit for the quarter was 47.8 billion yuan, compared with analyst expectations…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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