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Tencent's Attributable Profit Inches Up Slightly in Q2

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Tencent's Attributable Profit Inches Up Slightly in Q2

Tencent's (HKG:0700) attributable profit rose 0.7% to 56 billion yuan in the second quarter from 55.6 billion yuan in the year-ago period, according to a Wednesday filing with the Hong Kong bourse.

Earnings per share at the internet giant increased 2% to 6.104 yuan from 5.996 yuan in the prior-year period.

Revenue grew 11% year over year to 204.8 billion yuan from 184.5 billion yuan.

Its value-added service segment saw a year-on-year rise in its top line by 8% to 98.4 billion yuan during the quarter. Domestic games revenue increased 17% year over year to 47.3 billion yuan on growth from its major games such as Delta Force, Valorant, and Roco Kingdom: World, among others.

Revenue from the marketing services segment jumped 22% to 43.6 billion yuan from 35.8 billion yuan on enhancements to its AI-driven ad recommendation model, among others.

Fintech revenue jumped 9% to 60.3 billion yuan from 55.5 billion yuan on higher commercial payment, wealth management, and consumer loan revenues.

Combined monthly average users of Weixin and WeChat rose to 1.44 billion during the quarter from 1.41 billion in the year-ago period. Fee-based value-added service subscriptions and mobile device monthly average users of its QQ service each slipped 2% year over year.

Half-year attributable profit increased 10% year over year to 114.1 billion yuan from 103.4 billion yuan, while revenue rose 10 to 401.2 billion yuan from 364.5 billion yuan.

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