Tencent’s online ads revenue grows for the first time since 2021


Chinese tech giant Tencent released quarterly results Wednesday.

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BEIJING — Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by growth in ads within its growing “video accounts” business.

Overall revenue for the quarter ended Dec. 31 came in at 144.95 billion yuan ($21.07 billion), higher than the 143.89 billion yuan estimated by FactSet.

Tencent’s online advertising revenue overall grew by 15% to 24.7 billion yuan, beating a FactSet estimate of 22.18 billion yuan — and growing for the first time since the second quarter of 2021. The company said most ad spend came from e-commerce companies, fast-moving…

Source cnbc.com

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