Tencent Holdings, China’s largest tech firm by market value, reported a 13% year-on-year revenue increase for the first quarter, fuelled by a resurgence in its gaming business. The company posted revenue of 180 billion yuan ($24.97 billion) for the quarter ending March 31, surpassing the 174.6 billion yuan forecasted by analysts surveyed by LSEG.
Despite falling short of profit expectations—recording a net profit of 47.8 billion yuan against an estimated 52.2 billion yuan—the company’s top-line performance reflected renewed momentum in gaming.
Tencent’s domestic gaming revenue jumped 24% to 42.9 billion yuan, while its international gaming segment grew by 23% to reach 16.6 billion yuan. The company benefited from a more relaxed regulatory environment in China after years of tight restrictions on gaming.
Key contributors to this growth included “Dungeon & Fighter Mobile,” launched in May 2024, and the tactical shooter “Delta Force,” which debuted in September.
Tencent continues to maintain its global leadership in the gaming sector, while also operating the widely used WeChat messaging platform.
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Source: Finance.yahoo.com
