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Tencent’s Growth Revival: Navigating the Evolving Landscape of Advertising, Games, and AI
In the third quarter of 2023, Tencent Holdings (00700.HK) achieved revenue of 154.6 billion yuan, a year-on-year increase of 10%, basically in line with market expectations; non-IFRS net profit attributable to the parent company (hereinafter referred to as “non-international net profit”) 449 billion, a year-on-year increase of 39%, higher than Bloomberg’s consensus estimate. In terms of revenue, although the revenue growth rate declined slightly in the third quarter, it has maintained double-digit growth for three consecutive quarters. The revenue in the third quarter also hit a record high in a single quarter, and the direction of business recovery is clear. In terms of net profit, since growth resumed in the…