(Reuters) – The Chinese tech giant Tencent Holdings reported on an increase of 11% of its turnover in the fourth quarter on Wednesday, carried by the growth of its “gaming” segment.
Tencent, the largest video game group in the world and the operator of the WeChat messaging platform, recorded a turnover of 172.4 billion yuan (21.86 billion euros) over the last three months of 2024, exceeding the expectations of analysts, which, according to LSEG data, tab for 168.9 billion yuan.
Its net profit established at 51.3 billion yuan against a consensus of 46.3 billion yuan.
Tencent’s “Gaming” domestic segment has been widely restored since mid-2010, carried by successful games such as “Dungeon & Fighter Mobile” and “Delta Force”.
The group also benefited from regulatory softening in the game sector which followed the strong restrictions imposed in previous years.
On the fourth quarter, the turnover of the domestic video games segment increased by 23% to reach 33.2 billion yuan, while the international segment saw its sales advance from 15% to 16 billion yuan.
The turnover of the “Marketing Services” segment, which includes online advertising, has taken 17% at 34 billion yuan.
The “Fintech and Business Services” segment, which includes payment services, wealth management products and dematerialized computer solutions, has raised 56.1 billion yuan, an increase of 3% in annual shift.
(Written by Liam Mo and Brenda Goh, Pauline Foret, edited by Augustin Turpin)
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