• Tencent Soars in 2023: Cloud, Video Accounts Fuel Growth Despite Gaming Hiccup

    On the 20th of March, Tencent Holdings unveiled its annual financial report for 2023. The report revealed that the revenue for the fourth quarter of 2023 amounted to 155.2 billion yuan, marking a year-on-year surge of 7%; the adjusted net profit stood at 42.7 billion yuan. Notably, online advertising revenue in the fourth quarter reached 29.79 billion yuan, while game revenue in the international market reached 13.9 billion yuan. Throughout 2023, Tencent Holdings’ revenue soared to 609 billion yuan, reflecting a notable year-on-year increase of 10%; correspondingly, the full-year NON-IFRS net profit surged to 157.69 billion yuan, marking an impressive year-on-year growth of 36%. Tencent Holdings unveiled its intention to…

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