Tencent posts better-than-expected 47% profit surge as games, AI tools shine [MSNBC.com]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: MSNBC.com
Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.Cheng Xin | Getty Images News | Getty ImagesChinese social media and gaming companyTencent reported profit attributable to shareholders surged by 47% year-on-year to 53.23 billion yuan ($7.37 billion) in the third quarter, compared with an LSEG estimate of 46.18 billion yuan for the period.The company's revenue rose by an annual 8% to 167.19 billion yuan, short of the 167.82 billion yuan analyst forecast.Gaming remained the company's backbone, with the unit's domestic revenue up 14% year-on-year to 37.3 billion yuan, while that for international games shot up by 11% to 14.5 billion yuan on a constant currency basis.The company noted that existing and new games had "evergreen potential."Marketing services revenue, previously called online advertising, surged by an annual 17% to 29.99 billion yuan, making it one of the fastest-growing categories outside gaming. T
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