Tencent Holdings Reports Strong Financial Growth in 2024

Tencent Hldgs ( (TCEHY) ) has released its Q4 earnings. Here is a breakdown of the information Tencent Hldgs presented to its investors.

Tencent Holdings Limited, a leading technology conglomerate in China, operates in various sectors including social media, gaming, and fintech, with a strong focus on leveraging AI technologies to enhance its services. In its latest earnings report for the year ended December 31, 2024, Tencent showcased significant financial growth, with revenues rising by 8% to RMB 660.3 billion and a notable 68% increase in profit attributable to equity holders, reaching RMB 194.1 billion. Key drivers of this growth included a 20% increase in marketing services revenue and a 7% rise in value-added services, bolstered by the company’s strategic investments in AI and its expanding games portfolio. The company also reported a 19% increase in gross profit, driven by high-margin revenue streams and improved cost efficiency in cloud services. Looking forward, Tencent’s management remains optimistic about continued growth, driven by ongoing investments in AI and a focus on enhancing user engagement across its platforms.