Tencent, China's Big Tech, Revenue Jumps 8% in Q3/67, Boosted by Gaming Business

Tencent, China's Big Tech, Revenue Jumps 8% in Q3/67, Boosted by Gaming Business, While Overall 3 Quarters Earned 167,190 Billion Yuan, Still Below Expectations

On November 13, 2024, Reuters reported that Tencent Holdings, the world's largest video game company and provider of the WeChat messaging platform, reported an 8% increase in third-quarter revenue , driven by growth in its gaming business following the recent launch of several new games.

Tencent reported revenue of 167,190 billion yuan ($23,140 billion) for the quarter ended Sept. 30, in line with analysts' average estimate of 167,800 billion yuan, according to LSEG.

Profit attributable to shareholders was 53,230 billion yuan ($7,370 billion) in the third quarter, compared with LSEG's estimate of 3 billion yuan in the same period.

Reference: reuters.com

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