- Tencent reported 30% profit surge to $8.3B, 6% revenue growth.
- Its online ads surged 26% to $4B from AI infrastructure.
- Company investing in tech, rewarding shareholders through buybacks, dividends.
Profit party in full swing
Tech titan Tencent kicked off 2024 with a bang, reporting a 30% year-over-year surge in operating profits to a whopping $8.3 billion.
Through the roof at 37%, fueled by the company’s high-quality revenue streams like advertising, Mini Games, and e-commerce tech services. Tencent’s revenue game was equally strong, climbing 6% year-over-year to an impressive $22.5 billion.
A 26% spike in online advertising revenue to $4 billion, thanks to increased user engagement and Tencent’s AI-powered ad infrastructure enhancements.
Investing in and rewarding shareholders
While raking in profits, Tencent kept its eye on the prize, investing heavily in AI technology, platform improvements, and high-quality content.
And let’s not forget the shareholders – the company kicked off a share buyback plan targeting a staggering $12.8 billion, along with increased dividends, proving its commitment to shareholder returns.
To read the original article: https://www.techinasia.com/tencent-grows-revenue-6-gross-profits-30-q1
