Tencent posts fastest profit growth in 3 years as online ads, business services offset slower gaming
Publishing timestamp: 2024-05-14 05:21:20
Summary
Tencent beat analyst estimates for revenue and profit in the first quarter of the year, showing improved performance in its core gaming business, advertising, and business services division. The company's adjusted net profit was up 62% year-on-year, with revenue jumping 6%. Tencent's efforts to focus on core gaming and other areas like advertising and cloud computing have been rewarded by investors, with shares up 30% this year. The company's online advertising division and fintech and business services unit also saw strong growth in the first quarter.
Sentiment: POSITIVE
Keywords: willscot mobile mini holdings corp, mobile gaming, business news, earnings, technology, tencent holdings ltd, breaking news: asia, china, internet, breaking news: technology, video games,
Source: https://www.cnbc.com/2024/05/14/tencent-earnings-report-q1-2024.html