Earnings

Tencent Q1 earnings report 2023

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Chinese tech giant Tencent released quarterly results Wednesday.

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Tencent reported an 11% jump in quarterly revenue Wednesday, marking its fastest growth in more than a year, as the company saw a big rebound in payment volumes, ad sales, and gaming.

Here’s how Tencent did in the first quarter, versus Refinitiv consensus estimates:

  • Revenue: 150 billion Chinese yuan ($21.4 billion) vs. 146.09 billion yuan expected, a rise of 11%% year-on-year.
  • Profit attributable to equity holders of the company: 25.8 billion yuan vs. 31 billion yuan expected, a rise of 10% year-on-year.

Tencent reported results after the market close in Hong Kong Wednesday. Shares of…



Source cnbc.com

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